Survey: Heating oil drops 2 cents a gallon

Posted July 22, 2009, at 10:36 a.m.

AUGUSTA, Maine — The average price of heating oil in Maine has dropped another 2 cents to $2.24 a gallon in the latest survey this week.

Executive Director John Kerry of the state Office of Energy Independence and Security says “market fundamentals of supply demand and inventories point to lower prices.” But he says that shouldn’t bring a large measure of relief because the market remains volatile.

Actual prices in the survey ranged from a low of $1.80 in southwestern Maine to a high of $2.50 in northern Maine. The average price of kerosene was down six cents to $2.69.