Fuel oil is any of various fractions obtained from the distillation of petroleum (crude oil). Such oils include distillates (the lighter fractions) and residues (the heavier fractions). Fuel oils include heavy fuel oil, marine fuel oil (MFO), bunker fuel, furnace oil (FO), gas oil (gasoil), heating oils (such as home heating oil), diesel fuel and others.

The term fuel oil generally includes any liquid fuel that is burned in a furnace or boiler to generate heat (heating oils), or used in an engine to generate power (as motor fuels). However, it does not usually include other liquid oils, such as those with a flash point of approximately 42 °C (108 °F), or oils burned in cotton- or wool-wick burners. In a stricter sense, fuel oil refers only to the heaviest commercial fuels that crude oil can yield, that is, those fuels heavier than gasoline (petrol) and naphtha.

Fuel oil consists of long-chain hydrocarbons, particularly alkanes, cycloalkanes, and aromatics. Small molecules, such as those in propane, naphtha, gasoline, and kerosene, have relatively low boiling points, and are removed at the start of the fractional distillation process. Heavier petroleum derived oils like diesel fuel and lubricating oil are much less volatile and distill out more slowly.