If we are strictly speaking of electrical resistance heater vis-a-vis a direct fired fluid heater, the outcome depends upon the fuel and electricity prices.
A typical kind of fuel used for fired heaters in India (called as LDO, Light Diesel Oil) has a net calorific value of 10000 kcal/kg which is about 41800 kJ/kg. If you have a requirement where you have to burn 1kg of this fuel/hr then the heat output, considering a non condensing tupe furnace and efficiency of the heater based on the net calorific value, with an overall efficiency of 85% (in general case it is better than this), is (41800*0.85)/3600 = 9.87kW.
If you have to carry this heat to the end point by a heat transfer fluid with a specific heat of mere 0.6 kcal/kg deg.C (or 2.5 kJ/kg deg.C), for one degree rise in temperautre, the flow rate will be about (9.87 kW)/(2.5 kJ/kg deg.C x 1 deg.C) = 3.948 kg/sec.
If the circulating system is a closed loop circuit without being opened to atmosphere, 25m head is more than sufficient to take care of frictional losses in the circuit. So pump power for circulating this fluid, considering 90% motor efficiency, 70% pump efficiency and a direct coupled pump motor arrangement, will be 3.948 kg/sec x 25 m x 9.81/(0.9x0.7) = 1536.9 W or 1.5369 kW.
The price of 1 kg of LDO is about Rs. 25 (1USD = Rs. 45) and power cost is Rs. 5.5 / (kW-hr) for an industrial setup.
So total running cost of circulating oil heater system is 25 + (5.5x1.5369) = Rs. 33.45/- (with higher delta T of circulating fluid, the pumping cost will come down further)
Total running cost of resistance heater for the similar application is 9.87 x 5.5 = Rs. 54.285/-
Perhaps, prices of electricity and fuel oil are in the similar ratio for Cyrusabdollahi (in his geography) as well.
PS: I focused only on the running cost here and not the total cost which should include the capital cost also.