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Fuel Oil Prices Stable in Maine
01/22/2014 02:50 PM ET  

Heating oil fell slightly, and propane prices have stabilized after rising for months, state energy officials say.

Heating oil prices in Maine fell a penny a gallon, on average, over the past week. That's according to the Governor's Energy Office's latest survey, which found that the statewide average cash price for No. 2 heating oil now stands at $3.80 a gallon.

Kerosene prices also fell by an average of a penny, to $4.20 a gallon, while propane prices stabilized for the first time since the beginning of October.

After rising for months, the GEO says, propane prices leveled off this week to an average statewide price of $3.25 a gallon. That's 60 cents a gallon higher than it was selling for at the beginning of the heating season.

State energy officials say propane prices aren't likely to fall any time soon, though. Fifty to 60 million gallons of propane are scheduled to be shipped in the coming weeks, relieving tight supplies. But high demand has forced dealers to turn to the more expensive spot market, so the shipments come at a higher price, officials say.



 

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