Home → Current Heating Fuel Prices
Current Heating Fuel Prices
The Governor's Energy Office (GEO) conducts a weekly survey of heating fuel prices during the heating season from the beginning of October to the end of March. During the rest of the year, the GEO releases a bi-weekly update.
Please Note: The price for the various heating fuels are statewide averages, and prices in a given geographic region of the state may be considerably higher or lower than this average. Also, the statewide average price for propane, like heating oil, is a spot price, not a pre-buy price. The spot price for propane is based on a use of at least 900 gallons a year. Households using propane just for cooking or hot water generally pay a higher per gallon price. The table listed in our weekly price survey provides current Maine cash prices in dollars rounded to the nearest penny.
The Energy Office has a calculator on its web site that allows consumers to obtain more detailed estimates of home heating costs, and the price impacts of various types of fuel, heating systems and heating appliances. Heating costs vary considerably from home to home. The home heating calculator can assist homeowners in finding the best heating option for their home, location, lifestyle, and budget. Home Heating Calculator
Heating Fuel Prices Remain Flat Despite Lower Crude Prices
February 7, 2019
Augusta, Maine - The Governor's Energy Office (GEO) conducted its weekly heating fuel price survey on Monday, February 4, 2019, and found the current statewide average cash price for No. 2 heating oil was $2.90 per gallon, up three cents since early January. The average statewide kerosene price is up 5 cents from early January, now at $3.50 per gallon. The average propane price (for heating customers) has remained quite stable since the heating season began. This week's average heating price was $2.88 per gallon, essentially the same price observed since early November. The table below shows average prices since early November, and also displays the difference in prices between this heating season and 2017-18.
Date | Maine Average Heating Fuel Prices, per Gallon |
||
---|---|---|---|
Heating Oil | Kerosene | Propane | |
11/5/18 | $3.01 | $3.61 | $2.89 |
11/13/18 | $3.02 | $3.61 | $2.88 |
11/19/18 | $3.01 | $3.60 | $2.89 |
11/26/18 | $2.99 | $3.58 | $2.88 |
12/3/18 | $2.97 | $3.54 | $2.88 |
12/10/18 | $2.96 | $3.55 | $2.89 |
12/17/18 | $2.96 | $3.55 | $2.89 |
12/26/18 | $2.96 | $3.55 | $2.89 |
1/2/19 | $2.88 | $3.47 | $2.88 |
1/7/19 | $2.86 | $3.45 | $2.87 |
1/14/19 | $2.89 | $3.50 | $2.87 |
1/22/19 | $2.90 | $3.50 | $2.87 |
1/28/19 | $2.90 | $3.50 | $2.87 |
2/4/19 | $2.90 | $3.50 | $2.88 |
avg. 2017-18 heating season price |
$2.59 | $3.22 | $2.70 |
Crude oil prices dropped almost 40 percent from early October into December, and have since recovered slightly; prices are now approximately 30 percent lower than early October highs (approximately $53 [WTI] to $63 [Brent] per barrel). Despite this, heating oil prices have remained relatively flat over the last few weeks. Below is a summary of the historic wholesale and retail heating oil prices (as well as crude oil, gasoline, and diesel oil) from 2016 - 2018 as reported by the Energy Information Administration (EIA), as well as EIA's forecast of prices for 2019 - 2020.
Short Term Energy Outlook, U.S. Energy Information Administration (EIA) Liquid Fuels - Wholesale and Retail Prices, 2016-20201
Crude prices are a significant factor contributing to the final price of heating oil, but weather also impacts final retail prices. As discussed in a press release issued earlier in the season, Heating Degree Days (HDD), is a measure of heating demand (i.e., the higher the HDD, generally the higher the demand for fuel, which generally puts upward pressure on prices). The table below includes the heating degree days for each month of the heating season (through January), and also provides a summary of the heating season to date.
Heating Degree Days (HDD), Selected Locations in Maine, Oct 2018 through Jan 2019
City |
HDD |
Deviation from 30 Year Normal2 |
Deviation from last year |
Season Deviation from 30 year Normal |
Season Deviation from last year |
OCTOBER |
Colder (3-13%) than a normal October; much colder (46-53%) than Oct. 2017 |
||||
Augusta |
594 |
90 |
317 |
||
Bangor |
614 |
80 |
318 |
||
Caribout |
775 |
84 |
358 |
||
Houlton |
789 |
106 |
364 |
||
Portland |
539 |
16 |
263 |
||
NOVEMBER |
Colder (6-16%) than a normal November; 8-12.5% colder than Nov. 2017 |
||||
Augusta |
964 |
158 |
115 |
||
Bangor |
973 |
134 |
122 |
||
Caribou |
1113 |
74 |
90 |
||
Houlton |
1106 |
99 |
121 |
||
Portland |
883 |
93 |
87 |
||
DECEMBER |
Avg. to slightly warmer than a normal December; 5-14% warmer than Dec. 2017 |
||||
Augusta |
1099 |
2 |
-111 |
||
Bangor |
1142 |
10 |
-135 |
||
Caribou |
1359 |
3 |
-70 |
||
Houlton |
1311 |
-11 |
-77 |
||
Portland |
991 |
-46 |
-140 |
||
January |
Avg. to slightly warmer than normal January; 3% warmer to 4.5% colder than Jan. 2018 |
||||
Augusta |
1418 |
8 |
44 |
||
Bangor |
1433 |
-25 |
12 |
||
Caribou |
1688 |
-31 |
44 |
||
Houlton |
1651 |
-13 |
76 |
||
Portland |
1289 |
-57 |
-46 |
||
SEASON TOTAL (through January) |
|
|
|
Percent colder than Normal |
Percent colder than last year |
Augusta |
4335 |
192 |
348 |
4.4% |
8% |
Bangor |
4464 |
137 |
320 |
3% |
7% |
Caribou |
5374 |
-85 |
414 |
-1% |
7.7% |
Houlton |
5371 |
72 |
501 |
1% |
9% |
Portland |
3929 |
-46 |
133 |
-1% |
3.4% |
1 Prices are national averages, but heating oil prices are heavily weighted toward New England prices, as most of the country's heating oil is consumed in the Northeast.
2 'Normal', means the average temperature over a thirty year period. This figure illustrates long term trends, as opposed to conclusions that may be drawn from a single year temperature aberration.
https://www.cpc.ncep.noaa.gov/products/analysis_monitoring/cdus/degree_days/
October and November 2018 were significantly colder than the same months in 2017, as well as the 30- year normal temperatures calculated by the National Oceanic and Atmospheric Administration (NOAA) for those months. December 2018, in contrast, was warmer than both December 2017 and normal December temperatures. January 2019 has been, overall, a rather mixed bag. Temperatures have ranged from slightly warmer to slightly colder, depending on location within the State. So goes the heating season in general. Depending on location, temperatures have ranged from approximately the 30-year normal to slightly (less than 5%) colder. However, compared to last year, this heating season has been colder overall.
Below is a table of prices collected for various regions of the state.
Maine Retail Heating Fuel Prices, as of February 4, 2019
Heating Oil |
Statewide |
Southwest |
Central |
Eastern |
Western |
Northern |
|||||||||
Average |
2.90 |
2.92 |
2.93 |
2.87 |
2.89 |
2.89 |
|||||||||
High |
3.35 |
3.35 |
3.35 |
3.35 |
3.35 |
3.00 |
|||||||||
Low |
2.49 |
2.49 |
2.76 |
2.63 |
2.70 |
2.85 |
|||||||||
Kerosene |
3.50 |
3.59 |
3.51 |
3.46 |
3.45 |
3.45 |
|||||||||
Propane |
2.88 |
3.04 |
2.82 |
2.87 |
2.77 |
2.70 |
3 https://www.cpc.ncep.noaa.gov/products/analysismonitoring/cdus/degreedays/mctyhddy.txt
Based on this week's prices, Mainers can estimate the cost of heating by using the table below. Prices between various heating fuels are listed, and these prices are converted to a common heating unit value (dollars per million Btu).
Comparison of Heating Fuel Prices per Million Btu (February 4, 2019)
Fuel Price (in dollars) | Fuel Price (dollars per million Btu) |
---|---|
Cord Wood ($275/cord) | $12.50 |
Wood Pellets ($268/ton) | $16.24 |
Natural Gas ($1.499-$2.127/therm) | $14.99-$21.27 |
Heating Oil ($2.90/gallon) | $20.91 |
Kerosene ($3.50/gallon) | $25.93 |
Propane ($2.88/gallon) | $31.53 |
Electricity - baseboard (15.8-18.5 cents/kwh) | $46.31-$54.22 |
Electricity - air source heat pump (5.85-6.85 cents/kwh)** | $17.15-$20.08 |
service only selected areas of the state. **ductless, air source heat pump calculations courtesy of Efficiency Maine
Fuel prices are only part of the calculation when determining which fuel will save you more money over the course of a heating season. The type of heating system and its efficiency are also important factors in determining final costs. The Energy Office has a calculator on its website that allows consumers to explore these fuel options further, as well as compare efficiencies of heating systems most closely matching their own system. Heating costs vary considerably from home to home. The home-heating calculator can assist homeowners in finding the best heating option for their home, location, lifestyle and budget http://www.maine.gov/energy/index.html . Efficiency Maine also has a calculator on its website to help consumers evaluate their heating options http://www.efficiencymaine.com/at-home/home-energy-savings-program/heating-cost-comparison/ .
The price for heating oil is a statewide average; prices in a given geographic region of the state may be considerably higher or lower than this average. This week, within the Energy Office sample, the highest heating oil price found was $3.35, and the lowest heating oil price found was $2.49. In addition, the statewide average price for propane is based on consumption of at least 900 gallons a year. Households using propane just for cooking or hot water generally pay a higher per-gallon price. The table above provides current Maine cash prices in dollars rounded to the nearest penny.
For Immediate Release
Contact:
Lisa Smith
(207) 624-7445
lisa.j.smith@maine.gov
Archived Press Releases
- December 12, 2018
- November 28, 2018
- November 1, 2018
- October 16, 2018
- October 10, 2018
- October 2, 2018
- September 12, 2018
- August 2, 2018
- March 6, 2018
- January 19, 2018
- January 7, 2015
- January 14, 2015
- January 28, 2015
- February 11, 2015
- February 24, 2015
- March 4, 2015
- March 17, 2015
- May 13, 2015
- July 1, 2015
- July 21, 2015
- August 11, 2015
- August 27, 2015
- September 23, 2015
- October 8, 2015
- October 15, 2015
- October 29, 2015
- November 10, 2015
- November 25, 2015
- December 3, 2015
- December 8, 2015
- December 16, 2015
- December 29, 2015
- January 7, 2014
- January 22, 2014
- January 27, 2014
- February 4, 2014
- February 11, 2014
- February 18, 2014
- February 25, 2014
- March 5, 2014
- March 11, 2014
- March 19, 2014
- March 26, 2014
- April 2, 2014
- April 8, 2014
- April 23, 2014
- April 30, 2014
- May 7, 2014
- May 29, 2014
- June 9, 2014
- June 25, 2014
- July 22, 2014
- August 27, 2014
- September 30, 2014
- September 8, 2014
- October 16, 2014
- October 22, 2014
- October 30, 2014
- November 5, 2014
- November 12, 2014
- November 20, 2014
- November 25, 2014
- December 2, 2014
- December 9, 2014
- December 17, 2014
- December 23, 2014
- December 30, 2014
- January 2, 2013
- January 8, 2013
- January 15, 2013
- January 22, 2013
- January 29, 2013
- February 5, 2013
- February 12, 2013
- February 20, 2013
- February 25, 2013
- March 6, 2013
- March 12, 2013
- March 20, 2013
- March 28, 2013
- April 3, 2013
- April 11, 2013
- April 18, 2013
- April 23, 2013
- May 8, 2013
- May 23, 2013
- June 11, 2013
- June 25, 2013
- July 10, 2013
- July 24, 2013
- August 6, 2013
- August 21, 2013
- September 10, 2013
- September 23, 2013
- October 1, 2013
- October 8, 2013
- October 30, 2013
- November 5, 2013
- November 13, 2013
- November 19, 2013
- December 3, 2013
- December 11, 2013
- December 17, 2013
- December 23, 2013
- December 31, 2013
- May 25, 2012 (PDF)
- April 30, 2012 (PDF)
- March 19, 2012 (PDF)
- March 12, 2012 (PDF)
- March 5, 2012 (PDF)
- February 27, 2012 (PDF)
- February 20, 2012 (PDF)
- February 13, 2012 (PDF)
- February 6, 2012 (PDF)
- January 30, 2012 (PDF)
- January 23, 2012 (PDF)
- January 17, 2012 (PDF)
- January 9, 2012 (PDF)
- January 3, 2012 (PDF)
- December 27, 2011 (PDF)
- December 19, 2011 (PDF)
- December 12, 2011 (PDF)
- December 5, 2011 (PDF)
- November 28, 2011 (PDF)
- November 21, 2011 (PDF)
- November 14, 2011 (PDF)
- November 7, 2011 (PDF)
- October 31, 2011 (PDF)
- October 24, 2011 (PDF)
- October 17, 2011 (PDF)
- October 11, 2011 (PDF)
- October 4, 2011 (PDF)
- March 21, 2011 (PDF)
- March 14, 2011 (PDF)
- March 7, 2011 (PDF)
- Feburary 28, 2011 (PDF)
- Feburary 21, 2011 (PDF)
- Feburary 14, 2011 (PDF)
- February 7, 2011 (PDF)
- January 31, 2011 (PDF)
- January 24, 2011 (PDF)
- January, 19, 2011 (PDF)
- January 10, 2011 (PDF)
- January 3, 2011 (PDF)