That is NOT normal utility voltage.
If both legs measure high, then loose neutral wouldnt be the problem.
Either the transformer is failing or they are having issues regulating the voltage on the primary side.
I lived in a house one time where we saw several bulbs burn out at the same time. I got my meter out and discovered the incoming service was at 260v.
I quickly called PGE who sent a troubleshooter out. He took one look at my MM reading and the volt meter reading on the service meter and said thats not good.
He then huried down to the substation and then called me. He discovered the control equipment for the high voltage autotransformer was not able to adjust the taps. The incoming primary voltage was high and since it wasnt being regulated, the transformer feeding my house was putting out higher voltage on the secondary side.
He manually adjusted it, which temporarily fixed the issue but told me to keep an eye on it, which i did. And told me to call him if it got high again. It happened a few more times over the next day.
He told me the PoCo needed to replace some equipment at the sub and it would take a few days to do it...
All u folks who are having power issues need to stay on your PoCo, like flees on a dog, til they fix it!