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Heating Oil Prices in Maine Remain Stable
06/28/2010 04:05 PM ET  

Prices in Maine haven't changed much since last week, despite concerns about the effects of the looming hurricane season on oil spill cleanup efforts in the Gulf of Mexico.

Heating oil prices in Maine were unchanged last week, but concerns about upward pressure on prices remain, state officials say. According to the Governor's Office of Energy Independence and Security's weekly oil survey, the current statewide average cash price for No. 2 heating oil now stands at $2.63 gallon, the same as last week.

Concerns about tropical storm Alex hitting the Gulf of Mexico amid the oil spill led to price spikes last week, but prices subsided as the storm moved away from offshore operations, says OEIS Director John Kerry. "Concerns that a strong hurricane season could further exacerbate the oil spill in the Gulf should spur homeowners and businesses to evaluate their heating oil use and explore ways to reduce consumption," he says in a statement.

In Maine, actual oil prices varied across the state last week, with the lowest price of $2.38 a gallon found in the southwest and west, and the highest price of $2.80 a gallon found in the east and north. Kerosene is currently selling for $2.99 a gallon, the same as last week, while propane, based on a use of 600 gallons a year, is currently selling for $2.68 a gallon, down two cents.




 

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