Current Heating Fuel Prices

The Governor's Energy Office (GEO) conducts a weekly survey of heating fuel prices during the heating season from the beginning of October to the end of March. During the rest of the year, the GEO releases a bi-weekly update.

Please Note: The price for the various heating fuels are statewide averages, and prices in a given geographic region of the state may be considerably higher or lower than this average. Also, the statewide average price for propane, like heating oil, is a spot price, not a pre-buy price. The spot price for propane is based on a use of at least 900 gallons a year. Households using propane just for cooking or hot water generally pay a higher per gallon price. The table listed in our weekly price survey provides current Maine cash prices in dollars rounded to the nearest penny.

The Energy Office has a calculator on its web site that allows consumers to obtain more detailed estimates of home heating costs, and the price impacts of various types of fuel, heating systems and heating appliances. Heating costs vary considerably from home to home. The home heating calculator can assist homeowners in finding the best heating option for their home, location, lifestyle, and budget. Home Heating Calculator

Heat Pumps: A Closer Look

April 8, 2014

Augusta, Maine – The Governor’s Energy Office (GEO) conducted its weekly heating fuel price survey on Monday, April 7, 2014, and found the current statewide average cash price for No. 2 heating oil was $3.67 per gallon, down four cents from last week. The average statewide price for kerosene decreased three cents in the last week, to $4.14 per gallon. Propane prices are also lower; the average statewide price for propane (for heating customers) is now $3.27 per gallon, a drop of 13 cents per gallon. Last year at this time, heating oil averaged $3.58 per gallon; kerosene, $4.03, and propane, $2.77.

As Heating Degree Days turn into Cooling Degree Days, Mainers have a unique opportunity to purchase an appliance that handles both in an energy efficient manner. With efficiency ratings of at least 240%, according to the Energy Information Administration (EIA), air source heat pumps are one of the most energy efficient products on the market. The way they operate is fairly simple. During heating season, an air source heat pump takes the warmth of the air outside and pumps it into the home, while in the cooling season it takes the warm air from inside the home and pumps it outside. Learn more in this short video: http://www.youtube.com/watch?v=5MA25kFTF50&feature=player_embedded

Heat pumps historically have been used for air conditioning, not space heating, as the efficiency of older models plummeted as the temperature declined. That isn’t the case any longer. Technological advancements in electric air source heat pumps have made these new models a highly effective, efficient supplemental heating source, even during our cold winters. According to the Department of Energy, cold climate heat pumps work efficiently down to temperatures of around 15°F, with secondary settings to work in temperatures well below 0, a large step forward compared to standard heat pumps, which did not perform well below 40°F. These technological advancements make heat pumps a feasible heating option for harsh Maine winters. And because they run on electricity, any Maine household can install one. For the many areas in Maine too rural to ever see a natural gas pipeline, heat pumps can be your ‘gas by wire’.

Heat pumps generally don’t replace an existing heating system, because, on the few very cold days(well, more than a few this winter), a backup heating system will be needed. But, overall, Mainers can drastically reduce their heating costs by installing one. The upfront cost, while less than a new furnace, still may deter some families. Luckily for Mainers, Efficiency Maine is offering a $500 rebate on these appliances, as part of their residential home heating program. With an average cost of $3,500, and an average annual savings of $900, Efficiency Maine projects the heat pump will pay for itself in about 3 years. For program details call 866-376-2463 or visit www.efficiencymaine.com

Using this week’s average heating oil price ($3.67) and converting to a common heating unit value (million Btu), the price of fuel oil is $26.46. This compares with an equivalent heating unit value for natural gas of $15.50 (at $1.55/therm); propane, $35.80 (at $3.27/gallon); kerosene $30.67 (at $4.14/gallon); wood pellets, $14.67 (at $242/ton); cord wood, $11.36 (at $250/cord) and electricity, $43.96 (at 15 cents per kwh). These fuel-only prices do not take into account the type of heating system, nor its efficiency. For example, the electricity cost is for traditional baseboard heat. Other electric heating technologies, such as heat pumps and electric thermal storage (ETS), offer consumers energy savings either due to increased efficiencies, or by utilizing off peak electric rates.

The Energy Office has a calculator on its web site that allows consumers to obtain more detailed estimates of home heating costs, and the price impacts of various types of fuel, heating systems and heating appliances. Heating costs vary considerably from home to home. The home heating calculator can assist homeowners in finding the best heating option for their home, location, lifestyle, and budget http://www.maine.gov/energy/index.html

As of April 7, 2014


Heating Oil

Statewide

Southwest

Central

Eastern

Western

Northern

Average

3.67

3.63

3.71

3.67

3.62

3.77

High

4.09

4.09

3.90

3.81

3.75

3.97

Low

3.35

3.35

3.60

3.38

3.35

3.66

Kerosene

4.14

4.14

4.20

4.11

4.11

4.13

Propane

3.27

3.28

3.37

3.23

3.23

3.43

It is important to note that the price for heating oil is a statewide average, and that prices in a given geographic region of the state may be considerably higher or lower than this average. This week, within the Energy Office sample, the highest heating oil price ($4.09) was found in one region in the state, and the lowest heating oil price ($3.35) was recorded in two regions. Also, the statewide average price for propane is based on a use of at least 900 gallons a year. Households using propane just for cooking or hot water generally pay a higher per gallon price. The table above provides current Maine cash prices in dollars rounded to the nearest penny.

Download Release (PDF)

For Immediate Release

Contact:
Lisa Smith
(207) 624-7445
lisa.j.smith@maine.gov

View archived Heating Oil Prices