December 24, 2024
Business

Heating oil prices fall as inventories, fear up

AUGUSTA – The price of heating oil in Maine has fallen for the second straight week.

The state energy office said the cash price for heating oil fell to $3.22 a gallon on average on Monday, down 8 cents from a week ago. The price is still $1 higher than last year at this time.

Officials attributed the lower prices to rising heating oil inventories and fears of a slowing economy.

The lowest average price was found in southern Maine, while the highest price was in the eastern region.

The average price of kerosene fell 5 cents to $3.64 a gallon.


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