Maine oil prices increase

AUGUSTA – The Maine Office of Energy Independence and Security’s most recent survey of home heating oil prices found the current statewide average cash price for No. 2 heating oil to be up $0.08 since last week at $2.28 per gallon and $0.01 higher than last year at this time.

It is important to note that this price is a statewide average and that prices in a given geographic region of the state may be considerably higher or lower than the statewide average. Within the OEIS sample, the lowest actual heating oil price of $2.03 per gallon was found in the southwestern region while the high-end price of $2.43 per gallon was found in both the eastern and western regions of the state.

As of Nov. 24, New England heating oil inventories stood at 10,534 million barrels or 143 million barrels less than last year at this time.

The statewide kerosene price average is $2.71 per gallon, also up $0.08 since last week but $0.03 more than last year at this time. The propane price survey found the statewide average to be unchanged from last week at $2.35 per gallon but $0.15 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 for this time of year.