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OEIS Home > Energy Data > Heating Oil Prices

Heating Oil Prices

For Immediate Release                                                       
Contact: Jennifer Puser 287-6250
November 16, 2009

Heating Oil Prices Remain Stable

Augusta--- The Governor’s Office of Energy Independence and Security (OEIS) conducted its off season oil survey and has found that the current statewide average cash price for No. 2 heating oil to be at $2.56 per gallon, unchanged from last week.

While market fundamentals, petroleum inventories, and mild weather have stabilized prices in the near term, Maine consumers should be aware that due to a downward shift in the value of the dollar, international speculation and anticipated colder weather in the long term will eventually drive up the price of petroleum-based products,” said OEIS Director John Kerry. “All Maine consumers should prepare for this winter’s heating season by taking steps to weatherize their homes, reduce energy consumption and create an energy budget.”

As of November 16th, 2009

 

Heating Oil

Statewide

Southwest

Central

Eastern

Western

Northern

Average

2.56

2.41

2.61

2.67

2.47

2.77

High

2.85

2.65

2.70

2.85

2.70

2.80

Low

2.22

2.22

2.45

2.49

2.27

2.67

Kerosene

2.95

2.78

3.03

3.06

2.83

3.16

  Propane

  2.66

 

 

 

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 OEIS sample, the lowest actual heating oil price of $2.22 per gallon was found in the Southwestern region.  The high-end price of $2.85 per gallon was found in the Eastern region. The statewide kerosene price average is $2.95 per gallon at this time. The statewide average for propane based on a use of 600 gallons a year was $2.66 per gallon. The table above provides current Maine cash prices in dollars rounded to the nearest penny.

At the time of this release the price of WTI crude oil, major driver of refined product prices, including heating oil was $79.12.  Below is a price trend of the price in 2009:

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For assistance please contact MaineHousing about their Home Energy Loan Program (HELP) that provides low interest rate loans of up to $30,000 to low- and moderate-income homeowners to finance a wide variety of energy-related improvements to their homes. For program details and a list of HELP lenders visit MaineHousing’s website at www.mainehousing.org or call 1-877-544-3271.  Many projects funded through this program save more money through the improvements then the loan payments they have to make. Businesses should take advantage of Efficiency Maine’s small business loan program to make energy upgrades: http://www.efficiencymaine.com/business_programs.htm . The next survey is scheduled for November 23rd, 2009.