Warding Off Winter Cold in U.S. Will Be Pricey as Propane Soars
- U.S. supplies at lowest seasonally in at least six years
- Costs for rural residents, farmers to surge this winter
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Americans who rely on propane for heating are facing the most expensive winter in years as prices for the fuel jump to the highest since 2014.
Propane prices have risen almost 60% so far this year in Mont Belvieu, Texas, the main U.S. trading hub, amid strong overseas demand and tighter production. A rally in natural gas is adding momentum, since about 80% of America’s propane is a byproduct of gas processing.