Natural gas is billed in therms. Oil and Propane in gallons. Electricity in kWh. How do they compare on a cost per unit energy basis? See the chart attached. We call this the levelized cost of energy. If you know your utility rate and the seasonal average efficiency of your heating system, you can calculate your cost per kWh, and compare all of the energy sources for your area on a level playing field.
This way you can determine which fuel source is the most advantageous from an operating cost perspective. Worth noting this does not count renewable energy sources like solar, and assumes the utility rates and efficiencies are fixed. Use at your own discretion.
