Propane price per gallon today

The US Energy Information Administration, which does a weekly survey of residential propane prices per gallon, has resumed its activity. This should help all of us to get the best propane price per gallon today when we request quotes from propane companies, as the 2013-2014 heating season starts and propane prices rise in winter. What are we in for?

How does today’s propane price per gallon compare with the same period last year?

Today’s propane price per gallon does not compare too well with the price of propane per gallon last year. In last week’s Weekly Oil and Propane Prices update, the US EIA established an average propane price per gallon today of $2.337 per gallon. This is considerably higher than last year’s $2.20 propane price per gallon.

What does today’s propane price per gallon mean for residential propane users?

Today’s propane price per gallon is higher than last year’s over the same period. This means that throughout the US propane prices are likely to rise over the winter season and residential propane budgets will have to accomodate higher propane prices today. The $2.337 per gallon propane price today only indicates an average propane price so it is possible that you will pay more or less for propane depending on usage and location. It is a good benchmark for today’s propane price per gallon, however.

The propane price per gallon today per location and state

The US Energy Information Administration has not published data on the propane price per gallon today in all US states. However, for the states where data is available, numbers show that the propane price per gallon today is on average 6% higher than it was at this time last year.

• The propane price per gallon today is highest in Rhode Island, where propane gas costs $3.493 per gallon on average.
• Compared to last year, the propane price per gallon today is highest in Nebraska, where the average propane price per gallon has increased by over 16%.
• The propane price per gallon today is lowest in Iowa, where propane gas costs an average of $1.525 per gallon.
• And compared to last year, the propane price per gallon today is lowest in New Hampshire, where the average propane price has decreased by 3.5% since the same period in 2012.

Pricing data from the US Energy Information Administration

What today’s propane price per gallon means for you

In a nutshell, if you lived in Nebraska and needed to fill your 500-gallon propane tank (to an 80% capacity, the safe recommendation, from a 20% capacity - so 300 gallons), it would cost you $462 today compared to $398 last year. That is a $64 difference.

Let’s take Ohio, where the propane price per gallon has not increased as much but which is closest to average trends. The same operation would cost you $709 today, compared to $627 last year - an $82 difference!

This makes requesting detailed quotes from propane companies even more important. Indeed, the propane price per gallon today will inevitably vary from one propane dealer to the next and you will want to get the best deal.

See the propane price per gallon comparison per state for yourself: