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Thread: Propane Price

  1. #1

    Default Propane Price

    Got mine for $1.99 this year. About 25% higher that the highest before.

    U.S. propane spot prices have declined from multiyear highs

    Data source: Refinitiv, an LSEG business
    Note: Prices are adjusted for inflation using the Consumer Price Index.


    After reaching multiyear highs in March, propane spot prices at the Mont Belvieu distribution hub in Texas have steadily declined. Propane prices reached $1.64 per gallon (gal) for the week ending March 11, 2022, the highest inflation-adjusted price since February 2014. Propane prices have declined by 32% since March to $1.14/gal for the week ending July 29, according to data from Refinitiv, an LSEG business.
    Similar to other petroleum products, propane prices are connected to crude oil prices. Propane prices had been increasing along with a higher Brent crude oil price. Lower-than-average U.S. propane inventories last winter also put upward pressure on prices. However, since March, propane prices have declined as inventories increased.
    Although domestic propane demand has been relatively flat, U.S. propane exports have increased as a result of strong global demand. On an annual basis, the United States has exported more propane than it has consumed in every year since 2017. Global demand for propane has risen because of its use as a petrochemical feedstock in propane dehydrogenation units and flexible feedstock crackers, particularly in Asia.
    During the first five months of 2022, 53% of U.S. propane exports went to markets in Asia, mostly to Japan, China, and South Korea, according to our Petroleum Supply Monthly. As a result of Europe’s shift in energy supply following Russia’s full-scale invasion of Ukraine, U.S. propane exports to Europe accounted for 18% of U.S. propane exports during the first five months of the year, compared with 14% in the first five months of 2021.
    Principal contributor: Josh Eiermann
    What's the Frequency, Kenneth?

    432Hz

  2. #2

    Default

    Residential propane prices in October 2022 similar to prices in October 2021

    Data source: U.S. Energy Information Administration, Heating Oil and Propane Update

    Propane prices during the first month of the current winter heating season (October–March) are essentially unchanged compared with prices at the same time last winter. The U.S. residential price of propane averaged $2.66 per gallon (gal) in October 2022, the same as the average price in October 2021, according to our Heating Oil and Propane Update (HOPU).
    As of October 31, the U.S. residential price of propane averaged $2.67/gal, down 6 cents from the previous year. Last winter, strong winter heating consumption and increased global demand for propane contributed to low U.S. propane inventories and high propane prices. This year, propane inventories are higher, but the retail prices remain similar to last October. As of November 4, U.S. propane inventories were 14% higher, at a total of 87.7 million barrels, compared with the same week in 2021, according to our Weekly Petroleum Status Report.
    According to the U.S. Census Bureau’s 2021 American Community Survey, propane is the primary home heating fuel in 5% of U.S. homes and tends to be more common in the Northeast and Midwest. At least 13% of homes in Vermont, New Hampshire, South Dakota, North Dakota, Iowa, and Montana use propane as the primary heating fuel.
    Data source: U.S. Census Bureau, American Community Survey 2021

    In the latest update of our Winter Fuels Outlook forecast, we expect households that use propane as their primary source of heating fuel will pay about the same amount for heating this winter compared with last winter. Propane prices are generally highest in New England and lowest in the Midwest.
    The HOPU is published as part of the State Heating Oil and Propane Program (SHOPP), a joint effort between EIA and several states where heating oil and propane use is common to collect state-level residential heating oil and propane price data from October through March. SHOPP collects residential heating oil and propane prices for 21 states. In 18 additional states, SHOPP collects only propane prices, and in the District of Columbia, SHOPP collects only heating oil prices.
    The HOPU also publishes wholesale heating oil and propane prices for 26 states. We publish price data in the HOPU each Wednesday at 1:00 p.m. eastern time from the first week of October through the last week of March on the Winter Heating Fuels and Heating Oil and Propane Update web pages, as well as in a weekly Winter Propane Market Update supplement.
    Principal contributors: Marcela Bradbury, Matthew French
    What's the Frequency, Kenneth?

    432Hz

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