As Temperatures Fall, Heating Oil Prices In Maine Continue To Climb

PORTLAND, Maine - The price of heating oil continues to climb steadily in Maine even as global crude oil prices have fallen. The Governor's Energy Office said on Tuesday the average statewide cash price is now $2.99, which is 3 cents higher than a week ago. It's also up from $2.21 per gallon from October 2017. The energy office says there has been "considerable speculation" about the future of oil prices due to impending economic sanctions on Iran from the United States. Decreased production in Venezuela and tension between the U.S. and Saudi Arabia are also factors. Kerosene is now $3.58 per gallon, up from $2.85 in October 2017. Propane is $2.84, up from $2.53 in October 2017. Kerosene and propane were also both up slightly from last week.