Heating oil prices fell another 3 cents between Wednesday and Monday, reaching a statewide average of $2.31 per gallon.
That’s 35 cents higher than last year at this time, but 23 cents less than No. 2 was selling for on Sept. 12, according to figures compiled by the state’s Office of Energy Independence and Security.
The September prices reflected the run-up in retail costs for gasoline, oil, diesel fuel and other petroleum-based commodities that followed Hurricane Katrina.
This week’s home energy price survey found No. 2 prices varying by region, with a low of $2.10 per gallon found in southwestern Maine and a high of $2.45 in the state’s eastern region.
Kerosene prices also fell, down 4 cents since last week to an average of $2.71 per gallon. That’s 47 cents more than kerosene was costing last year at this time.
Propane fell by 8 cents since last week’s survey – conducted on Wednesday instead of the usual Monday. The propane price this week is pegged at $2.22 per gallon, up 21 cents from last year’s price. The propane price is for quantities purchased in bulk for home heating applications.
The decline in heating oil and kerosene reflect significant reductions in the price of crude oil. Crude had been trading in the $65 per barrel range in September. On Monday it was in the $58 per barrel range.
The state office said heating oil inventories in New England remain above average. Kerosene stocks are average. Propane inventories are stable, but not building.
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