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October 4, 2011

Heating oil starts season 84 cents higher than year ago

By Tux Turkel tturkel@mainetoday.com
Staff Writer

The state’s first weekly oil price survey has found the average, statewide cash price for heating oil to be $3.50 a gallon, which is 84 cents higher than one year ago at this time.

“Maine’s heating season began this week with heating oil up nearly a dollar over last year, continued economic uncertainty and increasing global demand for petroleum products,” said Ken Fletcher, the state’s energy director.

“Although crude oil prices have slid below $80 from a peak of $114 in April, heating fuel prices remain elevated,” he said. “Making matters worse, the U.S. Department of Energy is predicting even higher estimates this winter due to cold seasonal temperatures and strong international demand.”

Within the survey sample, the lowest actual price of $3.20 per gallon was found in the southwest part of the state. The highest price of $3.88 per gallon was found in the north.

The statewide kerosene price average is $3.92 per gallon.

The statewide average for propane, based on using 925 gallons a year, is $3.12 per gallon.  

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