Heating Oil Prices Rise in Maine
Heating oil prices are higher in eastern Maine, away from the population centers. (image: unitedwayem.org)
The average price of heating oil in Maine went up by an average of three cents per gallon from the past week, according to an Associated Press article published on Wednesday. That increase corresponds to this week’s rise in the trading prices of crude and heating oil on NYMEX, which have responded more to market factors (like a weak dollar) than fundamentals like supply and demand.
The state’s Office of Energy Independence and Security takes a weekly survey of heating oil dealers in order to gauge the average price. This week, a gallon of heating oil averaged $2.38 per gallon, up from $2.35 per gallon last week. Prices changed from region to region; a low of $2.07 per gallon was found in southwestern Maine while a high of $2.65 per gallon was reported in the eastern part of the state. This is the first time since August that heating oil prices in the state have risen.
