It's starting to feel very 2007 all over again
Back around 2007-2008, I remember gas in my neighborhood down in Westbrook was around $4.25 a gallon, and heating oil wasn't too far behind. It was a good $450 - $500 a month to heat our house in the dead of winter. And at the time, my wife and I were newly married, and not making tons of money. It was a struggle sometimes.
And in the last five or six years, we'd gotten used to more moderately priced fuel. At points, we even had record lows. Now, this is where it would be easy to start pointing political fingers at all this, but OPEC pretty much sets the prices. All any president can do in the U.S. is tap into reserves to try and offset the cost.
That won't make you feel any better about where prices are headed
According to WMTW, oil prices could spike as much as 43% this winter, nationally. The average price is already around $2.89 a gallon in Maine, so that would see our price go up to over $4.00 a gallon! Is it guaranteed to go that high? No, but it seems waaaaay too possible at this point.
For some Mainers, this just isn't doable. There are several programs out there for folks who need assistance. Maine has its 211 hotline, which can help people connect with organizations that could help with the cost, and has even partnered with the United Way for the Keep Me Warm program, which has an assistance fund set up.
And of course, MaineHousing is also accepting applications from folks who may need assistance. As for my house, I've never been so glad to own a woodstove. And I have an abundance of wood to help offset the cost. But I'm one of the lucky ones. It could be a long, cold winter with these prices. Let's hope for a nice, early spring!