A Favorable Year for Propane Prices
A favorable year when it comes to propane prices.
The cost and availability of propane is not taking the spotlight this year with such a warm fall. Michael Newland is the director of agriculture business development at the Propane Education Research Council. He says inventories are at their highest levels in the last five years…
“We look at supply vs prior year vs 5-year average. So going into the heating season, coming out of grain dryer season going into heating season, we’re in a great spot from a supply standpoint. Inventories are very high, probably the highest they’ve been in that five-year window. So from that respect, we’re looking very good. That also leads right into probably a pricing conversation. You know, supply and demand still applies in our industry. With those higher supplies comes very stable pricing, so I think that’s a great thing for folks.”
He adds that the industry is actively pursuing innovative avenues, such as propane for vehicles…
“Propane is an incredibly clean fuel and I think it’s always going to have a place in our energy conversation.”
Again Michael Newland, Propane Education Research Council director of agriculture business development.