October 2022: Propane autogas fleets
Each month, LP Gas provides updates on the U.S. propane market, as well as the latest trends. The data for October 2022 is from Gray, Gray & Gray’s 2022 propane industry survey.
Stock information for Ferrellgas and Suburban Propane is also provided.
PROPANE MARKET METRICS
Commentary:
Thirty-six percent of respondents to Gray, Gray & Gray’s 2022 propane industry survey say their propane companies operate propane autogas vehicles. Regionally, the South reports the highest percentage of autogas users.
Marty Kirshner, partner in Gray, Gray & Gray’s Energy Practice Group, says those companies that haven’t adopted autogas should do so to qualify for the alternative fuel tax credit:
“Why keep fueling on diesel when you can fill with propane and get a significant credit from the government?” he asks.
The alternative fuel tax credit was extended retroactive for 2022 and through 2024.
STOCK WATCH
Source: Company data, FactSet and Wells Fargo Securities LLC (SPH); Yahoo Finance (FGPR)
Featured homepage photo: Easyturn/iStock / Getty Images Plus/Getty Images