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Heating Oil Prices in Maine Drop Another Two Cents
07/12/2010 02:07 PM ET  

The lagging economic recovery is keeping crude oil prices down, state officials say.

Heating oil prices dropped another two cents this week. According to the Governor's Office of Energy Independence and Security's weekly survey, the current statewide average cash price for No. 2 heating oil now stands at $2.59 per gallon. The drop comes on the heels of another two cent fall last week.

"A slower-than-expected economic recovery is keeping crude oil prices down, says OEIS Director John Kerry, in a statement. But Kerry says corporate earnings reports due out this week are expected to have an impact on prices.

Actual oil prices varied across the state, with the lowest price of $2.20 a gallon found in the west and southwest, and the highest price -- $2.80 a gallon, found in eastern Maine.

Kerosene is currently selling for a statewide average price of $2.95 a gallon, also down two cents a gallon from last week. Propane, based on a use of 600 gallons a year, is going for $2.60 a gallon, the same price as last week.




 

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