July 13, 2020
Business

Home heating oil prices drop

AUGUSTA – The Maine 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 $2.25 per gallon, a decrease of $0.23 since Sept. 5.

This price is also $0.31 lower than last year at this time, when petroleum prices were driven up in the aftermath of Hurricanes Katrina and Rita. Within the state sample, the lowest actual heating oil price of $1.96 per gallon was found in the southwestern region while the high-end price of $2.49 per gallon was found in the central region.

As of Sept. 22, New England heating oil inventories stood at 11.615 billion barrels, 308 million barrels more than last year at this time.

The statewide kerosene price average is $2.70 per gallon, a decrease of $0.19 since Sept. 5. The central region had the highest price average for kerosene at $2.82 per gallon. The propane price survey found the statewide average to be $2.40 per gallon, which is up $0.10 since Sept. 5 and up $0.22 since last year at this time. This average price for propane represents the price per gallon for a 600- to 800-gallon domestic heating application. East Coast propane inventories are tracking in the average range for this time of year.

Crude oil prices have been dropping and now stand at slightly more than $60 a barrel.

Access Maine’s energy information Web site at www.maineenergyinfo.com.


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