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Price of Heating Oil Continues to Climb

Price of Heating Oil Continues to Climb

Photo: 560 WGAN Newsradio


AUGUSTA, Maine (AP) Heating oil keeps growing more costly as several top oil-producing countries remain in political or economic turmoil.

The Governor’s Energy Office says the average statewide cash price is now $2.96, which is 19 cents higher than a month ago. It’s also up from $2.18 per gallon from September 2017.

The federal government estimates turmoil in countries including Iran will push prices to around $3.27 this winter, an 18-percent hike in heating oil prices nationally.

Energy Office Director Angela Monroe says Irving Oil doesn’t expect “broad-based supply issues” following an Oct. 8 explosion at its New Brunswick refinery. The facility provides Maine significant amounts of gasoline, diesel and heating oil.

Kerosene is now $3.55 per gallon, up from $2.83 in September 2017. Propane is $2.83, up from $2.69 in September 2017.

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