Last winter propane prices spiked from less than two dollars per gallon in December to more than five dollars per gallon in January, and the dynamics that caused the increase are still in place, the executive director of the Missouri Propane Association, Steve Ahrens, says.
The spike was driven by a record year for the need to dry grain, an unusually cold and early winter, and record propane exports that reduced domestic inventories. Ahrens says many propane users remember what happened last year and are doing the right things to combat high prices. For those that own their own tanks, that includes making sure to fill it early and to pre-buy to lock in prices. Ahrens says shopping around could prove to be a bad idea.