According to the state energy office’s weekly survey, the average heating oil price grew by 1 penny to $2.28 per gallon on Monday. That’s still $2.43 less than the peak of $4.71 a gallon in the state’s report on July 7.
John Kerry of the Office of Energy Independence and Security says the price of crude oil seems to be reacting to instability in the Middle East, and the dispute over natural gas supplies between Ukraine and Russia. In addition, he says OPEC’s supply cuts are beginning to have an effect.
In the survey, the lowest price of $1.87 per gallon was found in the southwestern Maine, while the high-end price of $2.50 per gallon was found in the eastern region.