AUGUSTA, Maine — The price for heating fuel increased by about 32 cents per gallon in the past two months, according to Gov. Paul LePage’s Energy Office, but a draft report from the federal government says heating oil prices will be slightly lower this winter than last year.
The price for No. 2 heating oil on Aug. 30 was $3.59 per gallon, according to a statewide survey conducted by the Governor’s Energy Office. This is the first summer the state has monitored heating oil prices, adding to the body of weekly data it collects each year from October through March.
Because this is the first year summer surveys have been conducted, direct comparisons to last year are impossible. But heating oil cost $3.52 per gallon in October of last year, the closest date on record to last August.
Numbers on the efficacy of No. 2 heating oil versus natural gas continue to be staggering, with heating oil about eight times less efficient than natural gas. Energy Office data state that oil is rated at $22.60 per million Btu compared with natural gas, which is about $2.71 per million Btu.
The U.S. Energy Information Administration predicts heating oil prices will be 4 percent lower this year than last year, while propane prices may be 19 percent lower than last winter. But Michael Barden, senior planner with the Energy Office, says those numbers should be taken with a grain of salt.
“Their draft has a confidence interval of 95 percent,” he said, meaning the administration is 95 percent certain their prediction is accurate. “But the range is $50 to $165. … That doesn’t give you much confidence, does it?”
While the Energy Information Administration numbers are far from perfect, Barden said they are the best available, as the administration keeps tabs on refinery production, international economies and geopolitical factors that all affect the price of heating oil.
Even if the price of heating oil drops compared with last year, it may not matter, according to predictions from the National Oceanic and Atmospheric Administration. NOAA predicts the 2012-2013 winter will be about 18 percent colder than last year’s remarkably mild season. The Farmer’s Almanac also predicts a cold, snowy winter.
“That colder winter would more than negate any price drop in heating fuel,” Barden said.
Heating oil peaked at $3.86 per gallon in February and March last year, the highest since 2004.
Follow Mario Moretto on Twitter at @riocarmine.
18 percent colder? Does that mean it will be in the upper 70’s next March vs the 80’s we had this year?!
Every one had money to waste on buying and setting fireworks this summer….now many of you will be cold this winter. Maybe your pipes will break and there will cold water flooding your house and trailer. Call a Plumber? HAHAa, what it will cost you. Maybe your kid will get a cold or pneumonia.
Yes, come January, 3 am in the morning. Cold blustery winds howling outside. I WILL BE WARM, laughing at your misery. You should have saved your money ,now enjoy your freedom to freeze
You are very sad and lonely. :) We are laughing at your misery.
Every night I am trying to sleep at 9 O’Clock because i work in the morning. The welfare and the poor were setting off fireworks…..now they are going to be ….cold.
i am just serving perniciousness on a cold plate to the needy
Add to it the monthly cost of electricity along with monthly commuting costs for gasoline and taxes paid for military operations in the Midddle East to maintain supplies of oil. So energy costs keep going up while wages and salaries remain flat and declining. But the good news is as a society we keep doing the same old thing and hoping for a different outcome.
Yes, exactly! Voting Democrat or Republican is akin to bending over and saying “thank you sir, may I have another”. We need a third party that actually gives a frog’s plump behind about the working men and women of America.
We don’t need a third party. We need to do away with the whole party system. Then we need to have citizens who will take the time to learn what the role of government is, as defined by the constitution, so that they can cast an educated vote. Today’s election process is more akin to American Idol or Survivor. I guess that would be asking too much though.
Use pellets then get some fireworks with the money you save
WELFARE EBT CARDS WERE FILLED TODAY FOR ABOUT FORTY THOUSAND MAINERS
With cold weather just ahead but it is still warm out. How many will go out today and buy booze,pot,butts,fireworks,get another tattoo,party tonight, or just plain just get knocked up again.
THEN CRY BABY THEY CANT AFFORD HEAT THIS WINTER
Thank you President Obama, Fuel cost highest for the start of the year. I can just imagine come January…
This is a bogus weather forecast. Check out the NWS long range forecast maps and you will see the current forecasts through next spring call for ABOVE normal temperatures. It may be somewhat colder than last winter, but right now the maps shows above average temps. That may change next week, but the article is very misleading. I love the farmers almanac, but I never hear it mentioned when their forecast is incorrect. I wonder why????
18% cooler that is a lot please define ? Maybe the next ice age?