Electric Heat vs. Gas/Oil Heat Cost Calculator/Comparator Hey guys and gals! I have known about this web page for a few years know and I'm wondering why I haven't shared this with you yet. Well, here you go. Basically, you put in your electric rate and select the fuel that you use at home (propane, natural gas, fuel oil......no, wood is not an option) then it will tell you which one is more cost effective. Most of us will have propane or natural gas as the cheaper option. Unless you live in Texas where electric rates are some of the lowest in the country (USA).