February 10, 2014
Heating oil price continues to rise
The spot price of a gallon of heating oil continued to rise last week to $3.89 per gallon, nearly 36 cents higher than one year ago. Around 70% of Maine homes used No. 2 heating oil as of a 2012 American Community Survey estimate.
The Governor’s Energy Office reported last week that stocks of oil distillate are down over the year despite U.S. production rising 12%. The decline in oil distillate on hand is likely due to colder-than-average temperatures across much of the country this winter.
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