April 1st, 2020
Prices in Maine have dropped from $2.57 a gallon on average to a low of $2.15 - a price drop of 42 cents a gallon.
The cheapest quote we are aware of at this time is $1.949 for 150+ gallons.
On Sunday, March 8th, Saudi Arabia declared a price war that heating oil consumers can now see the benefit of.
We have seen massive demand in Europe as a result of both savvy customers making the most of these low prices but also more people having to resort to working from home.
We are expecting the same in the US and can already see demand increasing for the time of year. We are advising US consumers to take advantage of the low prices but also to make sure they are stocked up for any unforeseen extended periods at home.
As governments ramp up their efforts to combat the Covid 19 virus, there will be more people working from home so heating oil usage is expected to increase.