September 23, 2020

Heating oil prices drop with demand

AUGUSTA – The cost of heating oil in Maine continues to fall with the average cash price slipping 10 cents a gallon in the past week to $2.60.

The Governor’s Office of Energy Independence and Security said Monday its latest survey found actual prices ranging from a low of $2.06 in southwestern Maine to a high of $2.85 in the eastern part of the state.

The average price for kerosene was $3.15, down 11 cents from last week, while propane for domestic heating slipped 6 cents to $2.90.

John Kerry, the energy office director, said the price drops reflect the dramatic slowdown in demand that has caused crude oil to plunge to $50 a barrel.

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