At the prevailing local oil price today a ton of pellets is worth about $360 give or take burned in equivalently efficient devices. Your mileage on both will vary, this is as far as I can take the comparison. Locally #2 can be had for $2.99/gallon.
ETA: My current pellet stash cost is under $2.00/gallon oil equivalent, buy them when the price is right for you.
ETA: My current pellet stash cost is under $2.00/gallon oil equivalent, buy them when the price is right for you.