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 31, 2024. Here’s a brief summary:

• Residential Propane Prices: The national average was $2.587 per gallon, lower than last year by 0.123 per gallon. Prices varied across regions, with the East Coast averaging higher prices ($3.421 per gallon) compared to the Midwest ($2.103 per gallon).
• Wholesale Propane Prices: The U.S. average was $1.052 per gallon, down from the previous year by $0.092 per gallon. The Central Atlantic region had higher prices compared to the Gulf Coast.
• Stocks and Supply: U.S. propane/propylene stocks stood at 62.595 million barrels. The supply duration decreased to 38.8 days, compared to 46.3 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).