Low Propane Prices Fire Up the Grill

Low Propane Prices Fire Up the Grill

Propane prices haven’t started summer this low since the Covid-19 lockdown three years ago. A lot of the heating fuel was left over after an unusually warm winter, while record output from natural-gas drill-ers and oil refiners has offset record exports. Propane prices in commodity markets are more than 50% lower than a year ago and about $1 a gallon less than the pandemic peak. Propane cost 60 cents a gallon this past week at the trading hub in Mont Belvieu, Texas, where benchmark prices are determined for fu-tures traders, exporters and Gulf Coast chemical makers. It hit 58 cents Friday at the Kan-sas market that influences what a lot of farmers pay for propane that they burn to dry autumn harvests. Residential prices aren’t tracked in the spring and summer as closely as they are during the heating season, when millions of mostly rural Americans rely on propane to warm their homes, cook and shower in hot water. But con-sumer prices have eased. On New York’s Long Island, the average price in April was $4.16 a gallon, down from $4.34 in May of 2022, which was the highest price in 25 years of state energy data. Declining prices are great news for the roughly 5% of Americans who rely on pro-pane to heat their homes— not to mention grillers, fork-lift operators, patio restaurants, owners of heated pools and other summer pro-pane burners. Cheaper propane should also ripple through plastic supply chains. Huge volumes are used to make polypropyl-ene, which goes into automo-biles, appliances, packaging and carpet. As recently as 2009, the U.S. was a net importer of propane. The shale-drilling boom changed that. In 2013, the U.S. overtook Qatar as the world’s biggest propane ex-porter. A few years later the U.S. was shipping more pro-pane than the entire Middle East

Jun 14, 2023 16:40


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The section of oil, gas and petro-chemistry is the up-most and first industrial vantage of the country and the pivot of the Economy of Iran. Regarding the importance of this section and the need for coordinating and organizing the most active people in the field of production and exporting oil ,gas, and petrochemical products ,some forethoughtful and job- makers in the private section of the country decided to come together to fight against the threats by using the opportunity of mass intelligence and potentials.