PORTLAND, Maine — The statewide average price for heating oil dropped again in the last week, to $1.77 per gallon, the lowest price recorded since state surveys began in 2004.
The Governor’s Energy Office reported the price of heating oil has averaged $1.95 per gallon during the current heating season. The lower cost stands to save the average Maine household about $1,600 over last year, based on a use of 900 gallons for the heating season.
Converted to equivalent heating unit values, the state energy office reported that the price of heating oil was lower than natural gas, propane, kerosene, wood pellets, cord wood and electricity, though the actual heat obtained from each fuel source varies based on the efficiency of individual heating systems.
The latest survey found the lowest price statewide for heating oil was at $1.40 per gallon, measured in the the southwestern portion of the state. The highest price was logged at $2.05 per gallon, in the central part of the state.
The energy office said the price drops are in line with the fall of benchmark West Texas Intermediate and Brent crude oil, which were both trading this week below $30 a barrel, prices last hit in 2003.