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EIA: Propane prices decrease this winter heating season

Propane and heating oil prices have decreased this year compared to this time last year, according to the U.S. Energy Information Administration’s (EIA) State Heating Oil and Propane Program (SHOPP).

SHOPP collects state-level residential propane and heating oil price data in 38 states during the winter heating season. The program is a joint effort between EIA and state energy offices in regions where propane and heating oil are commonly used as heating fuels.

SHOPP reports the cost of propane for the winter of 2015-16 has remained slightly under $2 per gallon across the United States, about 42 cents less than a year ago. The following are average residential propane costs per gallon in different regions of the country:

East Coast: $2.67 (33 cents less than a year ago)

Midwest: $1.44 (50 cents less than a year ago)

Gulf Coast: $2.16 (33 cents less than a year ago)

Rocky Mountains: $1.79 (42 cents less than a year ago)

Weather forecasts predict warmer temperatures this winter season in regions east of the Rocky Mountains compared with last year. Based on those predictions and inventory levels, EIA expects propane and heating oil prices to remain at lower levels throughout the winter season.