The Energy Information Administration announced Thursday that even though propane stockpiles are higher this year, infrastructure issues may cause LP prices to go higher for this year's harvest vs. a year ago.
“Propane consumption in corn-producing states typically rises in September and October with the corn harvest, followed by a larger rise related to space-heating needs in January...Midwest propane inventories are higher going into this harvest season. As of September 26, inventories were above the five-year average and 3.7 million barrels higher than year-ago levels. However, recent infrastructure changes may affect propane supplied to the Midwest in the coming months, especially under high-demand conditions," according to the EIA statement. And, here is a chart of the propane inventories:
What is the price of LP in your area?
Thanks,
Mike
