Heating oil prices remain stable, study shows

    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 $2.57 per gallon, up one cent from last week.
    “The economy, though slowly recovering, still remains quite weak; unemployment numbers reflect this. Federal Reserve Chairman Bernanke’s statements, in regards to keeping interest rates low, suggest a weaker dollar. Price movements in the oil markets seem to be hinged on these two factors,” 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 Nov. 23, the breakdown by geographical areas for heating oil, kerosene and propane prices per gallon were:
    • Average: Statewide ($2.57); Southwest ($2.43); Central ($2.61); Eastern ($2.67); Western (2.48); and Northern ($2.76).
    • High: Statewide ($2.85); Southwest ($2.65); Central ($2.70); Eastern ($2.85); Western ($2.60)’ and Northern ($2.80).
    • Low: Statewide ($2.29); Southwest ($2.29); Central ($2.45); Eastern ($2.49); Western ($2.31) and Northeastern ($2.66).
    • Kerosene: Statewide ($2.95); Southwest ($2.79); Central ($3.03); Eastern ($3.06); Western ($2.84); and Northeastern ($3.16).
    • Propane: Statewide ($2.71).
    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 $2.29 per gallon was found in the Southwestern region.  The highest 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 $2.71 per gallon. The table above provides current Maine cash prices in dollars rounded to the nearest penny.
    For heating 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 Nov. 30.