Maine Heating Oil Prices Hit Record $6.04 Per Gallon

Heating oil prices in Maine reached a record average of $6.04 per gallon on October 19, marking an 83% increase from the previous year. The Maine Department of Energy Resources estimates that filling a standard 275-gallon tank now costs approximately $750 more than it did a year ago, a surge linked to the conflict in Iran.

In response to the price spike, the Trump administration released roughly 315,000 barrels of Northeast heating oil reserves to lower costs for homeowners. This action followed lobbying efforts by U.S. Senator Susan Collins.

Governor Janet Mills has called on Congress to increase federal funding for the Low-Income Home Energy Assistance Program, stating that current funding levels are insufficient for residents as winter approaches. Maine remains the highest per capita consumer of residential heating oil in the United States, with approximately 50% of households relying on the fuel as their primary heat source.