The average statewide price for heating oil has fallen to $1.74 a gallon, the lowest price ever recorded since the Governor’s Energy Office began weekly fuel price surveys in 2004.
This week’s average kerosene price is also down 5 cents compared to last week’s prices, to $2.33 per gallon, and propane prices have fallen 3 cents, to $2.19 a gallon.
The lower prices for refined heating fuels mirror a six-month slide in global prices for crude oil and natural gas. When markets opened on Thursday, West Texas crude oil was selling for $32 per barrel, down from around $60 per barrel last summer.
The Governor’s Energy Office estimates that a Maine household that burns 900 gallons of oil in the course of a winter will save almost $1,600 compared to the 2013-14 season, thanks to this year’s low prices.
Interactive: Christian MilNeil
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