2 min read

Heating oil average price stays at $3.86 a gallon

The average price of home heating oil in Maine remains at $3.86 a gallon for a third week in a row.

The weekly survey by the Governor’s Office of Energy Independence and Security found a low of $3.62 per gallon in southwestern Maine and the highest price of $4.17 in central Maine.

Office Director Ken Fletcher said there’s very little a state can do to in the short term to reduce oil prices since prices are determined primarily by global supply and demand. He said Monday that Maine’s focus should be on improving energy efficiency, pursuing renewable energy resources and expanding access to natural gas supplies.

Uncertainty leads stocks to a mix of ups and downs

U.S. stocks struggled for direction Monday, unsure of what to make of news about Greece’s debt workout and eclectic announcements from a few well-known U.S. companies, such as mattress maker Sealy and luxury retailer Michael Kors.

Advertisement

The Dow Jones industrial average and the Standard & Poor’s 500 ended the day higher, but the Nasdaq fell. The Dow was the most stable, staying above Friday’s close for all but a few minutes and closing up 37.69 points to 12,959.71.

“The market is going to continue to feel very schizophrenic,” said Carol Pepper, CEO and founder of Pepper International, a money management firm in New York. “Some days it’s depressed, some days it’s excited, some days it’s terrified.”

Tauruses and Sables probed after problems with stopping

Federal safety regulators have launched an investigation into sticky accelerators in more than 1.9 million Ford Taurus and Mercury Sable sedans.

The probe includes cars from the 2001 through 2006 model years. The Taurus and Sable are nearly identical.

The National Highway Traffic Safety Administration says it has received at least 14 complaints about the problem. No crashes or injuries have been reported.

But drivers have said it was difficult to stop the car. Several said they had to shut off the engine or shift into neutral in order to stop. At least two ran red lights before they could bring the cars under control.

The safety agency says the cruise control cable may become detached and hold the throttle open.

 

Comments are no longer available on this story