Nubble Light House, Maine. (image: ryanbogosta via flickr.com)

Last week’s statewide survey of heating oil prices showed that the average price of heating oil in Maine rose by a penny. The average retail price for heating oil in the state is now $2.67 a gallon, the same as it was on January 20th, when it exhibited its first decline since early December. Heating oil prices have remained stable for the past few weeks. Now, actual prices fall within a range of $2.36-2.85 a gallon, with the higher prices coming from the east and lower prices from the southwest. Surveys are conducted by the Governor’s Office of Energy Independence and Security on a weekly basis.

Downtown Portland, ME, where mild weather has brought down heating oil prices. (image: hellomotor.files.wordpress.com)

Maine energy officials reported yesterday that the price of heating oil fell last week, marking the first price drop since early December. According to the Office of Energy Independence and Security, the average price of heating oil fell to $2.67 a gallon, about a penny per gallon less than last week.

No doubt Mainers have warmer weather to thank for the reduced oil prices. The past week has been noticeably mild—Portland enjoyed temperatures in the mid-30s yesterday—after a prolonged cold spell drove up heating-oil prices in early January. As usual, prices were lowest in southern Maine and highest in the northern regions of the state.

Those readers keeping score at home will recall that heating-oil prices in Maine have been steadily increasing for at least four weeks. Not long ago, the price for heating oil hit $2.77 a gallon, which Office of Energy Independence and Security Director John Kerry attributed to colder weather and an improving economy in Asia. As long as global economic conditions don’t cool precipitously, Mainers—like other heating oil customers in the Northeast—might expect prices to remain above $2.60 per gallon, no matter how warm the weather.

(image: mcburnieoil.com)

WGME 13 in Maine reported Tuesday that heating oil prices in the state rose for the fourth week in a row during the week ending January 8. According to The Governor’s Office of Energy Independence and Security, the average price for No. 2 heating oil is currently $2.77 per gallon, up 10 cents from the previous week. Director John Kerry attributed the ascent in prices to a strengthening economy in Asia.

(image: meteorologynews.com)

The average price of home heating oil in Maine has gone up two cents over the past week, reports the Nashua Telegraph. According to the Governor’s Office of Energy Independence and Security’s weekly survey, the average price for heating oil in the state is now $2.57 a gallon. Prices are remaining stable because of adequate inventories of crude oil and a relatively mild winter so far, which has avoided extremely cold temperatures, says Director John Kerry.

Around the state, northern Maine has the highest heating oil prices at $2.80 while southwestern Maine has the lowest price at $2.28 per gallon.

Winter in Camden Harbor, Maine. (image: Maine's Oceanfront Real Estate Specialist via flickr.com)

Heating oil prices in Maine increased by a penny last week after holding steady for several weeks, the Maine Public Broadcasting Network reported on Monday. The network said that according to the Governor’s Office of Energy Independence and Security’s weekly survey, the average cash price of heating oil is $2.57 per gallon.

Oil prices varied by region, ranging from $2.29 per gallon in the southwestern part of the state, up to $2.85 per gallon in the east.

HeatingOil.com reported last week that OEIS Director John Kerry predicted that heating oil prices would eventually rise again due to anticipated colder weather this winter, the falling dollar, and international speculation.

The nation’s high unemployment rate and weak dollar affect oil prices, said Kerry. He reminded consumers to prepare for the winter by weatherizing their homes, creating an energy budget, and reducing energy consumption.

(image: tripadvisor.com)

According to the Associated Press, heating oil prices in Maine are holding steady at $2.56 a gallon for the third week in a row. Prices ranged from $2.22 a gallon in the western part of the state to $2.85 in eastern Maine. The director of the Governor’s Office of Energy Independence and Security, John Kerry, attributes the stable prices to the recent mild weather, but predicts the prices will eventually rise again due to the falling dollar, international speculation and anticipated colder weather this winter.

Barge off the coast of Maine. (image: Maine Coast via flickr.com)

According to WGME news, the average price of heating oil in Maine remains the same as last week at $2.56 a gallon. Residents in the eastern part of the state are paying the most per gallon at $2.85 while those in the west are paying significantly less at $2.22 per gallon.

However, the Governor’s Office of Energy Independence and Security reported that weather developments in the Gulf Coast could possibly lead to an increase in crude oil prices shortly, thereby increasing the cost of heating oil.

The OEIS warning of an oncoming price increase comes as a change from last week. HeatingOil.com reported on November 5 that Director John Kerry attributed last week’s one cent increase to rising optimism in the equities market and the decreasing value of the dollar.

Fall colors in Bangor, Maine. (image: gonewengland.about.com)

Last week, the price of heating oil in Maine rose 10 cents a gallon, according to the Govenor’s Office of Energy Independence and Security and reported by Maine Public Broadcasting on Monday. The average statewide price on Monday was $2.48 a gallon.

The price jump can partly be blamed on the impending winter season and dropping temperatures. But OEIS director John Kerry said that “optimism in the equities markets and tensions in Nigeria pulled markets upward against the tide of market fundamentals,” which previously reflected supply and demand trends.

The summer-long pattern of high crude inventories and low demand is now shifting as the economy continues to recover.

Kerry advised Mainers to weatherize their homes in preparation for heating oil season.

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.

Fishermen's Memorial in Land's End on Bailey Island, Maine. (image: Nathan & Jenny via flickr.com)

The average heating oil price in Maine fell by one cent over the past week, according to the state’s Office of Energy Independence and Security, reported by the Maine Public Broadcasting Network.

Currently, the average heating price throughout the state is $2.36 per gallon. However, prices varied regionally; a low of $2.05 per gallon was reported in southwestern Maine while a high of $2.65 was recorded in the eastern section of the state. The average price of heating oil in Maine has dropped three of the past four weeks.