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

Summer a Great Time to Plan for Upcoming Heating Season

August 27, 2014

Augusta, Maine – The Governor’s Energy Office (GEO) conducted its weekly heating fuel price survey on Monday, August 25, 2014, and found the current statewide average cash price for No. 2 heating oil was $3.39 per gallon, a six cent drop since late July, and the lowest price since last July. The average statewide price for kerosene also decreased four cents in the last month, to $3.87 per gallon. Propane prices are up slightly, increasing three cents over the last few weeks, making the average price for propane (for heating customers) $2.85 per gallon. Last August, heating oil averaged $3.47 per gallon; kerosene, $3.89, and propane, $2.60.

Although the state is experiencing mid-summer temperatures this week, heating season will soon be upon us. The prolonged cold and stormy weather last winter contributed to some fuel scarcities and record high heating costs. To avoid a repeat of last winter, there are actions you can take now to minimize your heating and electric bills. Take advantage of summer fill programs and explore “lock-in” rates offered by some fuel dealers – these may be a lower cost option for you. For those families who can afford to replace old, inefficient appliances, newer models use much less energy (think of that 20 year old fridge in the basement). As the days continue to get shorter, and lights are turned on earlier, replacing old incandescent or halogen bulbs with compact fluorescents and LED lights will significantly reduce the kilowatt hours you use each month. And, for homeowners interested in making their walls, basement, and attic more efficient, or upgrading their heating system to a more efficient one, Efficiency Maine has rebates and low interest loans available to homeowners who participate in their Home Energy Savings Program. Add some insulation – get $500 back. Install a new, cold climate heat pump – get $500 back. Seal your home from air leaks behind walls, around plumbing, near chimneys – get $400 back. Contact Efficiency Maine for more details.

Using this week’s average heating oil price ($3.39) and converting to a common heating unit value (million Btu), the price of fuel oil is $24.44. This compares with an equivalent heating unit value for natural gas of $14.50 (at $1.45/therm); propane, $31.20 (at $2.85/gallon); kerosene $28.67 (at $3.87/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), may offer consumers energy savings. Cold climate heat pumps, a recent technological advancement, are much more efficient than baseboard electric heat, so total energy costs are lower than many other types of heating fuels. ETS offers savings by utilizing off-peak electric rates, available in many areas of the state.

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 August 25, 2014


Heating Oil

Statewide

Southwest

Central

Eastern

Western

Northern

Average

3.39

3.33

3.48

3.44

3.33

3.47

High

3.87

3.87

3.80

3.66

3.55

3.55

Low

3.08

3.08

3.30

3.10

3.08

3.40

Kerosene

3.87

3.84

3.93

3.90

3.83

3.87

Propane

2.85

2.90

2.90

2.75

2.99

2.62

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 ($3.87) was found in one region in the state, and the lowest heating oil price ($3.08) 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