Heating Costs Hit Highest Price in a Decade

Propane heating costs in the U.S. rocketed to $2.59 per gallon this month, the highest level in a decade, as winter quickly approaches, the federal government said Friday.

The average cost of propane during the first four weeks of the current winter season, which begins in October, was 49% higher than last year, according to an Energy Information Administration (EIA) report. The agency noted that the low propane supply is a major reason for the increased prices.

“U.S. propane and propylene inventories are starting this winter season lower than in recent years; weekly U.S. inventories are averaging 28% lower than the same time last year and 21% lower than their recent five-year (2015–2020) average,” the report stated.

The price paid for heating has historically peaked between January and February, the EIA data showed. Heating costs are generally lower in October when demand is down and it is still warm in many parts of the country. (Read more from “Heating Costs Hit Highest Price in a Decade” HERE)

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