EIA Weekly Heating Oil and Propane Update

According to the latest Heating Oil and Propane Update from the U.S. Energy Information Administration (EIA), there are mixed trends in propane prices across different regions in the U.S.

The U.S. average for residential propane stands at $2.411 per gallon, marking a slight increase of $0.017 from the previous week. However, when compared to last year, there’s a notable decrease of $0.255. On the wholesale front, the U.S. average price is $0.854 per gallon, with a minor decrease of $0.040 from the preceding week, and a $0.233 decrease from the previous year.

Regional variations are also evident. For instance, residential propane prices in the East Coast (PADD 1) average at $3.235 per gallon, while the Midwest (PADD 2) enjoys a lower average of $1.935 per gallon. Similarly, wholesale propane prices exhibit regional disparities; the Central Atlantic (PADD 1B) records a higher average of $1.021 per gallon as opposed to the Gulf Coast (PADD 3) with an average of $0.822 per gallon.

These fluctuations in propane prices underscore the dynamic nature of the fuel market, influenced by various factors including supply and demand dynamics, geopolitical events, and weather patterns among others. As we brace for the colder months, staying informed on these price trends is crucial for budgeting and making informed heating choices for your home.

EIA will release this update through March, and NPGA will provide a weekly snapshot in the weekly Bobtail newsletter until then. NPGA solely provides EIA data; all numbers reported are sourced directly from the Energy Information Administration (EIA).

To view the report in its entirety, click here. For questions or comments on the report, please contact Twana Aiken, NPGA Senior Manager of Industry Affairs.