Maine heating oil prices hit record high of $6.02 per gallon

Heating oil prices in Maine have reached a record high of $6.02 per gallon, surpassing the previous record set in May 2022. According to the Maine Department of Energy Resources, this represents an 81% increase compared to the same time last year.

For a standard 275-gallon tank, residents will pay approximately $740 more than they would have a year ago. With roughly half of Maine homeowners relying on heating oil for winter warmth, officials are urging residents to be proactive.

To mitigate the impact, MaineHousing offers the Home Energy Assistance Program, while the Energy Crisis Intervention Program assists low-income households facing immediate crises starting November 1. Additionally, Efficiency Maine is providing discounts and bonuses for heat pump installations and water heaters.