Propane Inventories Fall
Propane inventories in the U.S. fell by 1.5 million barrels last week to 52.5 million. The largest draw of 1.1 million barrels occurred in the Gulf Coast region. The Midwest regional stocks fell by 0.5 million barrels and the Rock Mountain/West Coast region drew slightly. The East Cost regional stocks built by 0.1 million barrels.

The average residential propane price increased 3.1 cents per gallon to reach 227.2 cents per gallon. This was a decrease of 14.3 cents per gallon compared to the 241.5 cents per gallon average from the same period last year. Current propane prices gained 3.1 cents per gallon, from 117.0 cents per gallon to 120.1 cents per gallon. This was an increase of 38.9 cents per gallon when compared to the November 24, 2008 price of 81.2 cents per gallon.

Propane Inventories Continue to Decline
Propane inventories continued to fall last week from their October peak. Total U.S. inventories dropped over 1.8 million barrels to 63.6 last week. Consequently, primary inventories of propane have moved closer to the lower boundary of the average range for this time of year. The Midwest region led the decline with 1.3 million barrels of  drawn. The East Coast regional inventories declined 0.4 million barrels, while the Gulf Coast and Rocky Mountain/West Coast regions both drew 0.1 million barrels of inventory.

source EIA