According to recent data form the U.S. Census Bureau, about 75% of Maine’s households use heating oil to heat their homes. This is the largest percentage of heating oil use by any state. With this background, if you use heating oil, you should know where it comes from and how its price is determined.
Heating oil is created from crude oil after it has been ‘cracked’ This is when heating oil (also known as #2 fuel oil) is refined out of crude oil. Gasoline, jet fuel and diesel fuel are also produced from raw crude oil.
Since heating is produced from crude oil, whatever happens to the price of crude will tend to happen to heating oil. The price may rise or fall faster than crude oil, but the trend will still generally be the same direction.
One simple way to help lower your cost is to buy off season. Generally heating oil prices are cheaper during the summer. That is a great time to fill your tank and to also have your furnace tuned up. This way you know your furnace will be in tip top share before the winter begins and lessen the chance of your furnace breaking down during a cold snap.
Maine Heating Oil Prices
|Feb 24, 2014||3.909|
|Feb 17, 2014||3.906|
|Feb 10, 2014||3.918|
|Feb 03, 2014||3.934|
|Jan 27, 2014||3.892|
|Jan 20, 2014||3.829|
|Jan 13, 2014||3.841|
|Jan 06, 2014||3.835|
|Dec 30, 2013||3.78|
|Dec 23, 2013||3.741|
|Dec 16, 2013||3.688|
|Dec 09, 2013||3.658|
|Dec 02, 2013||3.626|
Home Energy Assistance Program Maine
Low Income Home Energy Assistance Program helps provide low income households to help pay for heating costs.
The amount of assistance that you can receive is based upon your income, household size and other factors.
To see if you qualify, please click here.