Dollars & Sense

Chart of average heating oil prices
Source: Maine.gov

Oil Pricing

The price of home heating oil has been steadily falling since early 2014 and hit all-time lows last winter. The current statewide average price of oil is $2.19/gallon, with prices expected to decrease further over the next couple of weeks.

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.