Propane prices skyrocketing this winter
Propane prices rise when colder weather approaches
Propane prices are rising as colder weather approaches in the area.
WASHINGTON (FOX 5 DC) – Propane prices – like everything else – are skyrocketing this winter. This results in people having to pool or spend a lot of money to heat their homes.
Fairfax Propane President Chris DeCarlo says the price per gallon of propane is up $ 1 compared to last year.
“Basically, I can only say that you have to get used to it. I don’t see anything on the horizon that will change anything about the high fuel prices, regardless of whether it is gasoline, crude oil, propane or natural gas. ” We somehow got into this situation where we are vulnerable, “said Decarlo.
This is the first time since 2014 that the price of propane has exceeded $ 1. Millions of people, especially in rural areas, depend on propane to heat and cook their homes.
DeCarlo says that propane shortages have always existed and it is the most sensitive fuel as it is a seasonal product. There is always great demand in winter.
However, the FOX 5 weather team predicts that this winter temperatures for the DC region will be slightly above normal, so people may not need to burn as much fuel to stay warm.
According to the US Energy Information Administration, propane prices are projected to increase by more than 54%. One reason for the price increase is that exports exhausted domestic supply before this heating season.
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“Once the fracking started, it created an abundance of propane in the United States and drove the price down. What has happened in the last 4 years is that the pipelines were built to be able to export propane to China and other countries and all of a sudden there is … no propane – relative to what the country needs – because a lot of which is exported, ”said DeCarlo.
Anyone who uses electricity for heating will only expect a price increase of six percent.