Dollars & Sense

Average Heating Oil Prices
Source: Maine.gov

 

OIL PRICING

The price of home heating oil has been steadily falling since early 2014. As of winter 2016, prices in the Portland area are nearing all-time lows. The current statewide average price of oil is $1.82/gallon, with prices even lower in some regions.

SURCHARGES

Oilheat prices are very straightforward. When an oil dealer quotes a per-gallon price, the customer pays exactly that price -- no extras. Utility gas bills generally include supplemental charges beyond the cost of the fuel itself, i.e. delivery and supply charges, cost adjustment charges, taxes, franchise fees, and more -- something to be aware of.

COSTS TO CONVERT

If you're converting from oil to natural gas, you'll need a new boiler or furnace, and you may need to reline the chimney as well as remove an above ground oil storage tank. The typical cost can range from $6,000 to over $10,000. Learn more here.