Heating oil prices fall in Maine

AUGUSTA – The Office of Energy Independence and Security survey of home heating oil prices last week found the current statewide average cash price for No. 2 heating oil to be $2.19 per gallon, a decrease of 1 cent since last week and 27 cents since Aug. 1 of this year. It is also 19 cents lower than last year at this time.

Within the state sample, the lowest actual heating oil price of $1.80 per gallon was found in the southwestern region while the high-end price of $2.37 per gallon was found in the central region. As of Oct. 27, New England heating oil inventories stood at 10,965 million barrels, or 380 million barrels more than last year at this time.

The statewide kerosene price average is $2.62 per gallon, a decrease of 4 cents since last week and 17 cents less than last year at this time. The central region had the highest price average for kerosene at $2.73 per gallon. Today’s propane price survey found the statewide average to be $2.28 per gallon, which is unchanged since last week and 2 cents higher than last year at this time. This average price for propane represents the price per gallon for a 600-800 gallon domestic heating application. East Coast propane inventories are in the average range.

Crude oil prices have been remaining in the upper $50 per barrel to lower $60 per barrel range. Last year at this time crude traded at $61.70 a barrel. Maine’s energy information Web site at www.maineenergyinfo.com provides energy-saving tips for homeowners, including expected costs and paybacks. Simple energy conservation steps can save hundreds of dollars this year in energy bills. For more information about the Maine Home Performance with Energy Star whole house energy efficiency program, visit www.mainehomeperformance.org.