EIA Weekly Heating Oil and Propane Update

The latest report from the U.S. Energy Information Administration (EIA) provides key insights into the propane market as of January 2024. Here’s a brief summary:

• Residential Propane Prices: The national average was $2.497 per gallon, lower than last year’s $2.693 per gallon. Prices varied across regions, with the East Coast averaging higher prices ($3.338 per gallon) compared to the Midwest ($2.019 per gallon).
• Wholesale Propane Prices: The U.S. average was $0.896 per gallon, down from the previous year’s $0.980 per gallon. The Central Atlantic region had higher prices compared to the Gulf Coast.
• Stocks and Supply: U.S. propane/propylene stocks stood at 79.063 million barrels. The supply duration decreased to 49.9 days, compared to 54.3 days last year.

These trends suggest a general decrease in propane prices and a tighter market. The report is essential for understanding the current state of the propane market, particularly for those in regions with significant price variations.

For more detailed information, click here to review the report. Questions or comments on the report? Contact NPGA Senior Manager, Industry Affairs Twana Aiken.

Disclaimer: NPGA solely provides EIA data; all numbers reported are sourced directly from the Energy Information Administration (EIA).