High propane prices predicted to continue throughout the US

02/12/2001
With US propane inventories declining at record rates and natural gas prices still two to three times their normal level, propane prices are expected to continue at high levels.About 8.1 million US households use propane for home heating. Because propane is a by-product of crude oil refining and natural gas processing, the wholesale price of propane tracks those of oil and gas.Last summer, oil prices as high as $35/bbl held propane prices at record levels, and they have remained high as gas prices rose through the fall and into the winter.NPGA viewDaniel Myers, executive vice-president and general manager of the National Propane Gas Association, Lisle, Ill, last week said, "Residential pr...
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