The Associated Press is reporting that the Governor’s Energy Office says there has been “considerable speculation” about the future of oil prices due to impending economic sanctions on Iran from the United States.

Meanwhile the price for heating fuels continues to climb here in Maine even though crude oil prices have declined globally.

According to the article, the average statewide cash price is now $2.99, which is 3 cents higher than it was just a week ago. Last year at this time it was $2.21 a gallon.

Kerosene has also jumped up in price since last October when it was $2.85, it's now at $3.58 per gallon. Propane prices are also on the rise jumping 31 cents from $2.53 last October to $2.84 this year. Both kerosene and propane are up in price from just last week.