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 24, 2024. Here’s a brief summary:

• Residential Propane Prices: The national average was $2.571 per gallon, lower than last year by $0.134 per gallon. Prices varied across regions, with the East Coast averaging higher prices ($3.408 per gallon) compared to the Midwest ($2.097 per gallon).
• Wholesale Propane Prices: The U.S. average was $1.070 per gallon, down from the previous year by $0.054 per gallon. The Central Atlantic region had higher prices compared to the Gulf Coast.
• Stocks and Supply: U.S. propane/propylene stocks stood at 67.912 million barrels. The supply decreased to 46.3 days, compared to 53.2 days last week.

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. For questions or comments on the report, please contact Twana Aiken, NPGA Senior Manager of Industry Affairs.

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