Propane Is Spiking, Piling Another Pain Point Onto US Consumers

The price of US propane is climbing at almost twice the pace of the natural gas it’s made from, threatening even more pocketbook pain for consumers already coping with surging gasoline, diesel and power costs.

The rise in a niche, household-fuel industry long insulated from international events shows how the knock-on effects of the Iran war are rippling through markets that are otherwise amply supplied. Iran’s effective blockage of tanker traffic in the Strait of Hormuz has disrupted trade in propane and other gas byproducts, prompting foreign buyers to seek alternative cargoes from the US.