Heating oil prices up 4 cents in Maine

AUGUSTA – Heating-oil prices in Maine continued to increase this week, jumping 4 cents a gallon to an average of $1.32. That is 21 cents higher than a year ago.

During December, the average price of heating oil has risen 11 cents in Maine, in large part due to the strike in Venezuela, uncertainty over war with Iraq, and colder than normal temperatures, the State Planning Office reported Monday.

Prices for heating oil in Maine ranged from a low of $1.20 in southwestern parts of the state up to $1.39 a gallon in northern areas.

Kerosene prices also increased again this week to $1.55 a gallon, up 4 cents since last week. Propane was the same at $1.57 a gallon.

Crude oil prices recently hit $32 a barrel, the highest in two years, and at least one analyst has predicted that that could go to $35, the SPO said.

Despite recent increases, the price for heating oil in Maine was still less than the rest of New England, where the average price on Dec. 23 was $1.34 a gallon.