U.S. Propane Prices Are Skyrocketing in a Rare Summer Rally
- Prices top $1 per gallon in June for first time since 2014
- Exports are 53% more than the five-year average for June: EIA
This article is for subscribers only.
U.S. propane prices have topped $1 a gallon for the first time seasonally since 2014 as domestic and overseas demand take off.
Prices have risen 36% since the start of the year in Mont Belvieu, Texas, the main trading hub for natural gas liquids in the U.S. Further stoking the rally is the fact that output of the fuel has stalled alongside oil and natural gas drilling.