Heating Oil Prices Hold Steady for the Present

November 19, 2012

Augusta, Maine – The Governor’s Energy Office (GEO) is conducting its weekly fuel price survey for this year’s heating season. On Monday, November 19, 2012, the current statewide average cash price for No. 2 heating oil is $3.64 per gallon, down a cent from last week’s price survey, and 4 cents lower than the first of October. Today’s prices are slightly lower than the cost of heating oil one year ago. Prices for propane in quantities used for heating are down 5 cents from last week, and remain significantly lower than this time a year ago. According to Bloomberg News, signs of increased conflict in the Middle East have pushed prices for crude oil sold on the New York Mercantile Exchange up to a 4 week high. http://www.bloomberg.com/news/2012-11-19/oil-rises-on-middle-east-conflict.html World leaders, including President Obama, have called for an end to the conflict before it escalates.

Using this week’s average heating oil price and converting to a common heating unit value (million Btu) the price of fuel oil is at $26.25. This compares with an equivalent heating unit value for natural gas of $17.00 (at $1.70/therm); propane, $29.89 (at $2.73/gallon); wood pellets, $14.30 (at $236/ton); and cord wood, $10.50 (at $210/cord). GEO has a calculator on its web site that allows consumers to estimate home heating costs and price impacts of various energy sources. See http://www.maine.gov/energy/index.html

As of November 19, 2012


Heating Oil

Statewide

Southwest

Central

Eastern

Western

Northern

Average

3.64

3.56

3.70

3.65

3.59

3.79

High

3.86

3.70

3.80

3.86

3.70

3.80

Low

3.30

3.38

3.50

3.30

3.30

3.75

Kerosene

4.09

4.05

4.14

4.09

4.06

4.19

  Propane

2.73

 

 

 

 

 

It is important to note that the price for heating oil 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 Energy Office sample, the lowest actual heating oil price of $3.30 per gallon was recorded in two regions of the state. The highest price of $3.86 per gallon was reported in only one region. The statewide kerosene price average is $4.09 per gallon, unchanged from last week. The statewide average for propane based on a use of at least 900 gallons a year is at $2.73 per gallon. The table above provides current Maine cash prices in dollars rounded to the nearest penny.

Efficiency Maine links Maine homeowners and businesses with qualified, certified contractors who provide access to energy improvement options. For program details call 866-376-2463 or visit www.efficiencymaine.com.

Download Release (PDF)

For Immediate Release

Contact:
Kenneth Fletcher
(207) 624-7405
kenneth.c.fletcher@maine.gov