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What Influences Propane Prices?

What will propane gas cost to fill your tank this year? What kind of price can I expect from my propane supplier? Propane prices occasionally spike, increasing disproportionately beyond that expected from normal supply/demand fluctuations. The main cause appears to lie in the logistical difficulty of obtaining resupply during the peak heating season. Because propane is produced at a relatively steady rate year-round by refineries and gas processing plants, there is no ready source of incremental production when supplies run low.

Propane wholesalers and retailers are forced to pay higher prices as propane markets are bid higher due to dwindling supply. Consequently, higher propane prices are simply passed on to consumers. Imports do not offer much cushion for unexpected demand increases or supply shortages due to the long travel time. On the other hand, when propane prices do spike, the petrochemical sector may cut back on its use, thus freeing up supplies for other uses.

Propane prices are subject to a number of influences, some common to all petroleum products, and others unique to propane. Because propane is portable, it can serve many different markets, from fueling barbecue grills to producing petrochemicals. The price of propane in these markets is influenced by many factors, including the prices of competing fuels in each market; the distance propane has to travel to reach a customer; and the volumes used by a customer. More especially, propane prices are affected by Crude Oil and Natural Gas Prices. Although propane is produced from both crude oil refining and natural gas processing, its price is influenced mainly by the cost of crude oil. This is because propane competes mostly with crude oil-based fuels.

Average Propane Prices For The Week Ending January 30, 2012

At the risk of sounding like a broken record, but average propane prices have remained steady at just under $2.87 per gallon. This price is five cents a gallon higher than this time last heating season. The average wholesale price for propane gas remains at about $1.23 a gallon. This is 19 cents a gallon cheaper than last season.

Current price of propane for the week ending January 23, 2012

Propane fuel prices for residential users dropped about 1 penny this week down to $2.86 per gallon. This is 6 cents higher than this week last heating season. Propane wholesale price rose 3 cents per gallon this week to end at $1.23 a gallon. This is 22 cents a gallon cheaper than last year at this time.

Cost of propane for the week ending January 18, 2012

The EIA has reported the national average propane price to be $2.87 per gallon for  2 consecutive weeks. This winter has been relatively mild compared to last year, but prices are still 8 cents higher this week than last year’s prices.

Propane wholesale prices dropped 5 cents per gallon to almost $1.21 per gallon. The wholesale price was $1.45 a gallon last year at this time, so prices have dropped about 25 cents per gallon.

Current propane prices for the week ending January 11, 2012

This is starting to sound like a broken record. Current residential propane prices increased less than 1 cent per gallon, leaving it at $2.87 a gallon. Propane prices have been steady over the last few weeks, but are still 11 cents a gallon ahead of last year’s prices.

The wholesale level of propane prices decreased by about 8 cents a gallon this week to $1.26 a gallon. This is 16 cents a gallon lower than this time last winter.

Price of propane gas for the week ending January 5, 2012

Continuing a trend that has developed over the last several weeks, propane prices rose less than a penny again this week to reach $2.87 per gallon. Despite this small increase in price, the cost of propane per gallon is now 13 cents higher than it was at this time last year. Wholesale propane costs dropped a penny this week to $1.34 per gallon. This is 8 cents a gallon lower than last year.

Propane cost for the week ending December 26, 2011

This week as we were all exchanging presents, the average price nationally of residential propane prices rose only fractionally to remain at $2.86 per gallon. This has left propane prices in the $2.80 range for several weeks now. This is 15 cents per gallon higher than last year at this time. The wholesale average increased 2 cents a gallon to $1.35 per gallon. This is 7 cents a gallon lower than last year.

Current propane prices per gallon for the week ending December 19, 2011

are up less than a penny this week. This now places the national average for residential propane prices at $2.86 a gallon, an increase of 18 cents from last season at this time. Wholesale propane prices experienced a big drop in price of 10 cents a gallon this week. This now makes the average wholesale price $1.33 a gallon, and is also 6 cents a gallon cheaper than last December 19.

Liquid propane price per gallon for the week ending December 12, 2011

Once again propane prices rose less than a penny this week. This results in the average national price remaining at about $2.85 per gallon. This is still 23 cents higher per gallon than this time last winter. Wholesale prices however dropped about 2 cents to end at $1.43 per gallon.

Small increase in propane prices for the week ending December 5, 2011

Price movement for residential LP gas was quite small this week. Prices finished up less than 1 cent per gallon to end the week at $2.85 a gallon. This is still 25 cents per gallon higher than it was at this time last year. Wholesale prices also moved up less than a penny to finish at slightly over $1.45 per gallon. This compares to the December 6, 2010 price of $1.32 per gallon.

Here is the national average for propane prices for the week ending November 28, 2011

The average price of residential propane gas this week is priced at $2.85 per gallon. This is a small increase of 1 cent from last week’s prices. Prices increased in all reporting regions. This week’s price is about 27 cents higher than at this time last winter. Wholesale prices for propane dropped by 2 cents a gallon to $1.45 a gallon. Compared to last years price, this is 14 cents a gallon higher.

Latest propane prices for the week ending November 21, 2011

This week’s rise in the average residential propane price amounted to only 1 cent. The average price is now $2.84 per gallon. LP prices increased across all reporting regions. The $2.84 is 28 cents higher than this time last year.

Wholesale propane costs dropped 2 cents this week to finish at $1.47 per gallon. This is 20 cents higher than the price this week last season.

What is the price of propane per gallon for the week ending November 14, 2011?

While propane prices continue to rise, they only rose less than a penny this week. The average price is now quoted at $2.83 a gallon nationwide. Prices actually fell by 1 cent in the Lower Atlantic reporting region. Wholesale prices went up however. They rose 2 cents a gallon to $1.50 a gallon.

Home propane prices for the week ending November 7, 2011

Residential LPG prices continued to rise this week. The average price rose just under 1 cent this week to reach $2.82 a gallon. This is 32 cents a gallon higher than the $2.50 per gallon price for this week in 2010.

Wholesale LPG prices actually decreased by a little more than 3 cents this week, bringing the average price down to $1.47 a gallon compared to $1.51 a gallon last week. However, prices this time last year were $1.32 a gallon, about 15 cents cheaper than they are now.

Propane gas prices per gallon for the week ending October 31, 2011

This week, residential propane price rose two and a half cents. That makes the national average now $2.82 per gallon. At this time last year, propane was $2.45 a gallon. This is an increase of 36 cents a gallon. Wholesale prices also increased this week, but not as much. Wholesale prices increased by a little more than a penny. It increased from $1.49 a gallon to just under $1.51 a gallon. This is now 22 cents a gallon higher than last winter at this time.

Average propane prices for the week ending October 24, 2011

Price this week for propane gas remained stable. The average price this week remained at around $2.80 a gallon. This is 37 cents per gallon higher than this time last year. Wholesale price declined this week to $1.49 a gallon from $1.56 last week. However, this is 22 cents higher than it was last year.

Current propane prices per gallon for the week ending October 17, 2011

This week the nationwide average for propane prices was $2.80 per gallon. This is 2 cents a gallon higher than last week. Wholesale prices were higher by 4 cents a gallon to $1.52 per gallon. Both residential and wholesale prices are up form last year’s levels at this time. Residential prices are up 39 cents and wholesale prices are up 27 cents since last year.

Cost of propane for the week ending October 10, 2011

The average price for residential propane gas rose by 1 cent this week to $2.78 per gallon. Compared to last years $2.39 per gallon last year, this is an increase of 39 cents per gallon. However, wholesale prices dropped 5 cents per gallon to $1.52. This is 20 cents higher than this week last year when prices were quoted at $1.33 per gallon.

Propane inventories recorded a slight build of 400,000 barrels. This gives us a total of 57.9 million barrels in storage as the stock season build ends.

Propane Prices for the week ending October 3, 2011

This week begins the heating season. Each week we will update the wholesale and residential propane prices reported by the EIA. This October, propane prices average $2.77  a gallon to start this heating season. This is about 26 cents higher than prices were this week last year. Current propane inventories are estimated to be at 57.5 million barrels. This is the lowest amount in storage since September of 1996. Inventory rose 1.2 million barrels last week, but are below the five year average at this time of year.

Propane prices for the week ending March 14, 2011

Propane prices decrease 2 cents per gallon during the past week. The average residential propane price now stands at $2.86 per gallon. This is an increase of 23 cents a gallon from the March 2010 price of $2.62. Propane price rose about 50 cents a gallon from the beginning of the 2010/2011 heating season of $2.36 a gallon. The wholesale price of propane dropped 5 cents a gallon this past week to $1.40 a gallon. This is 17 cents higher that the price in March 2010.

Propane Prices for the week ending March 7, 2011

Residential propane prices increase by 2 cents a gallon this week to reach an average price of $2.88 a gallon. This is an increase of over 23 cents per gallon compared to the $2.65 a gallon for propane this time last year. Wholesale propane prices actually dropped 23 cents this week to a national average of $1.46 a gallon. This price is still 15 cents higher than the March 8, 2010 price of $1.31 a gallon.

Propane prices rise again for the week ending February 28, 2011

After a slight drop in price last week, residential propane prices rose over 4 cents this week. The national average per gallon price for propane gas now stands at $2.86 a gallon. This is 18 cents a gallon higher than it was a year ago this week. Wholesale propane prices rose even more. The wholesale price went up 29 cents a gallon to an average of $1.69 per gallon. This is 34 cents higher than last year.

Current propane gas prices for the week ending February 21, 2011

Current residential propane prices are lower by 1 cent per gallon this week. The national average price for propane now stands at $2.82 per gallon. This is 13 cents higher than last winter. Wholesale propane gas prices rose slightly to $1.40 per gallon. Wholesale prices are 2 cents a gallon higher than last year.

Propane prices still up for the week ending February 14, 2011

Propane prices recorded a half cent a gallon gain in residential prices this week. This brings the national average for propane prices up to $ 2.83 a gallon, compares with $2.69 a gallon last winter. This is an increase of 14 cents from then. Wholesale propane prices actually dipped 1 cent this week to $1.40 a gallon.

Propane gas prices for the week ending February 7, 2011

Propane prices this week rose another penny per gallon. The average price across the United States for propane stands at $2.83 per gallon. Compared to last years prices, propane is now 14 cent a gallon higher than last winter. Wholesale prices are currently $1.41 a gallon. This is 12 cents a gallon lower than last year.

Weekly propane prices for the week ending January 31, 2011

The average residential propane price increased by nearly $0.02 per gallon to reach a price close to $2.82 per gallon. This was an increase of $0.14 per gallon compared to the $2.68 per gallon average from the same period last year. Wholesale propane prices decreased with the overall price at $1.42 per gallon. This was a decline of about $0.03 per gallon compared to the February 1, 2010 price of $1.46 per gallon.

Cost of propane gas for the week ending January 24, 2011

The average residential propane price increased by $0.02 per gallon to almost reach $2.81 per gallon. This was an increase of $0.13 per gallon compared to the $2.68 per gallon average from the same period last year. Wholesale propane prices decreased slightly with the overall price just shy of $1.45 per gallon. This was an increase of $0.02 per gallon compared to the January 25, 2010 price of $1.43 per gallon.

Propane Prices Today. Propane prices for the week ending January 17, 2011

The average residential propane price increased by $0.03 per gallon almost reaching $2.80 per gallon. This was an increase of more than $0.12 per gallon compared to the $2.67 per gallon average from the same period last year. Wholesale propane prices increased to $1.45 per gallon. This was an increase of almost $0.11 per gallon compared to the January 18, 2010 price of $1.35 per gallon.

Propane cost for the week ending January 10, 2011

The average residential propane price increased by nearly $0.02 per gallon to reach $2.76 per gallon. This was an increase of almost $0.10 per gallon compared to the $2.66 per gallon average from the same period last year. Wholesale propane prices continued to remain just shy of $1.42 per gallon. This was a decrease of almost $0.15 per gallon compared to the January 11, 2010 price of $1.57 per gallon.

Propane Prices for the week ending January 3, 2011

The average residential propane price increased by $0.03 per gallon to reach $2.74 per gallon. This was an increase of almost $0.21 per gallon compared to the $2.53 per gallon average from the same period last year. Wholesale propane prices remained just shy of $1.42 per gallon. This was a decrease of $0.05 per gallon compared to the January 4, 2010 price of $1.47 per gallon.

Propane Price Per Gallon for the week ending December 22, 2010

The average residential propane price increased by $0.05 per gallon to reach $2.68 per gallon. This was an increase of almost $0.28 per gallon compared to the $2.40 per gallon average from the same period last year. Wholesale propane prices increased by over $0.05 per gallon to $1.39 per gallon. This was an increase of almost $0.08 per gallon compared to the December 21, 2009 price of $1.31 per gallon.

Here are current propane prices for the week ending December 15, 2010

The average residential propane price increased by $0.03 per gallon to reach $2.63 per gallon. This was an increase of $0.27 per gallon compared to the $2.36 per gallon average from the same period last year. Wholesale propane prices increased by less than $0.02 per gallon to $1.33 per gallon. This was an increase of almost $0.09 per gallon compared to the December 14, 2009 price of $1.25 per gallon.

Propane Cost for the week of December 8, 2010

The average residential propane price increased by $0.02 per gallon to reach $2.60 per gallon. This was an increase of $0.26 per gallon compared to the $2.34 per gallon average from the same period last year. Wholesale propane prices increased by less than $0.01 per gallon to $1.32 per gallon. This was an increase of $0.03 per gallon when compared to the December 7, 2009 price of $1.28 per gallon.

Cost of propane for the week of December 1, 2010

The U.S. average residential propane price increased over $0.02 per gallon from last week to reach $2.58 per gallon. This was an increase of $0.29 per gallon compared to the $2.29 per gallon average from the same period last year. Wholesale propane prices increased by $0.04 per gallon from $1.27 per gallon to $1.31 per gallon. This was an increase of approximately $0.08 per gallon when compared to the November 30, 2009 price of $1.23 per gallon.

LP Gas Prices for the week ending November 24, 2010

Average residential lp gas prices increased by $0.03 per gallon to reach $2.55 per gallon. This was an increase of $0.28 per gallon compared to the $2.27 per gallon average from the same period last year. Wholesale propane prices decreased by $0.05 per gallon from about $1.32 per gallon to $1.27 per gallon. This was an increase of approximately $0.07 per gallon when compared to the November 23, 2009 price of $1.20 per gallon.

The price of propane gas for the week ending November 17, 2010

The average residential propane price increased by $0.02 per gallon to reach $2.52 per gallon. This was an increase of $0.28 per gallon compared to the $2.24 per gallon average from the same period last year. Wholesale propane prices decreased by about $0.02 per gallon, from about $1.34 per gallon to $1.32 per gallon. This was an increase of $0.15 per gallon when compared to the November 16, 2009 price of $1.17 per gallon.

Propane gas contracts prices for the week of November 8, 2010.

The average residential propane price increased by almost $0.05 per gallon to reach $2.50 per gallon. This was an increase of $0.29 per gallon compared to the $2.21 per gallon average from the same period last year. Wholesale propane prices increased by about $0.05 per gallon from $1.29 per gallon to $1.34 per gallon. This was an increase of $0.15 per gallon when compared to the November 9, 2009 price of $1.19 per gallon.

Propane pricing for the week of November 1,2010

The average price of propane increased, rising slightly more than $0.02 per gallon to reach approximately $2.45 per gallon. This was an increase of over $0.26 compared to the $2.18 per gallon average from the same period last year. Wholesale propane prices increased by nearly $0.02 per gallon, from $1.27 per gallon to $1.29 per gallon. This was an increase of almost $0.13 per gallon when compared to the November 2, 2009 price of $1.16 per gallon.

Propane Prices For The Week Ending October 25, 2010

Propane gas prices per gallon rose $0.01  to reach $2.42 per gallon. This was an increase of almost $0.27 compared to the $2.16 per gallon average from the same period last year. Wholesale propane prices shrank by about $0.01 to $1.27 per gallon. This was an increase of nearly $0.09 per gallon when compared to the October 26, 2009 price of $1.19 per gallon.

Other propane prices sources:

Weekly Propane Prices

This Week In Petroleum

Date    Weekly Mont Belvieu, TX Propane Spot Price FOB  (Cents per Gallon)

Sep 17, 2010    113.54

Sep 10, 2010    109.94

Sep 03, 2010    108.13

Aug 27, 2010    105.95

Aug 20, 2010    104.58

Aug 13, 2010    107.36

Aug 06, 2010    110.83

Jul 30, 2010    107.13

Jul 23, 2010    101.12

Jul 16, 2010    98.88

Jul 09, 2010    97.61

Jul 02, 2010    98.61

Jun 25, 2010    100.23

Jun 18, 2010    103.26

Jun 11, 2010    105.88

Jun 04, 2010    108.97

May 28, 2010    103.83

May 21, 2010    104.57

May 14, 2010    112.4

May 07, 2010    111.9

Apr 30, 2010    113.74

Apr 23, 2010    112.34

Apr 16, 2010    113.55

Apr 09, 2010    115.36

Apr 02, 2010    111.06

Mar 26, 2010    111.42

Mar 19, 2010    112.09

Mar 12, 2010    114.35

Mar 05, 2010    118.48

Use these prices as a guide when purchasing propane gas.

· First things first. Is you current supplier or prospective propane supplier registered with you state’s Department of Consumer Protection? Most states require suppliers to be registered and licensed. If a supplier isn’t registered, how can you trust them? When you decide on a supplier, call your state first to see if there is any complaints filed against them and to verify they are registered before signing up with them.

· Shop around. The price of propane can vary a great deal between competitors in the same market. You should call several suppliers to see what their current prices are and what type of service they supply. You can also shop online checking for the latest prices that a supplier is offering Prices will also vary depending on the amount of propane gas that you need delivered at the time. Obviously the more you order the more of a price break you should receive. Someone who is heating their home with propane should get a better price per gallon than someone who only uses propane for a pool or just for cooking.

· Talk to your neighbors. Find out who they are using and why? Do they offer great prices, great service, ask around. You will need to compare the same terms. Are the prices quoted by the supplier for a leased tank or a purchased one? Is the volume you need the same as your neighbor?

· Possibly form a buying group with your neighbors. There is power in numbers. If you and several of your neighbors can band together and form a buying group, you should be able to get a discount on your purchases. What propane gas supplier wouldn’t be happy to have a group to sell to each and every month?

· If you lease your tank, see if it would save you money if you purchased your tank. Simply ask for a quote from your current supplier AND from the competition. The next time you have your leased tanked filled, call around and ask for quotes for a delivery to a customer owned tank. With these figures, you now calculate whether it is cheaper for you to own your tank or to be a tank leaser.

· When receiving delivery make sure your ticket is accurate. Very simple right? Make sure the proper amount of propane was delivered and the amount on the ticket was the price you were quoted. Mistakes can be made, so stay on top of this.

· Check here to see the current trends in propane prices. If prices have been trending down, but your supplier’s prices is still the same or worse higher, call them out on it by showing the national trend from here.

· For any contract you sign, make sure you receive a signed and dated copy for your records. Also keep your keep all of your delivery receipts for about a year in case of any disputes. Keep these papers with your mortgage papers for easy retrieval if necessary.

· Ask your supplier for a discount. Why not, right? If you have been a steady customer for years, why shouldn’t you get a better price? It cost you nothing to ask, and you have everything to gain don’t you?

· When in doubt, asked until you are satisfied. Have things in writing so all the terms and conditions are clear to you. If anything is unclear, don’t sign until you understand the conditions.

There you have it, some simple steps to take to protect yourself from overpaying and getting the best propane prices this winter. Most propane gas suppliers are reputable, but you should always be looking to protect yourself.