Homeowners should wait to fill their propane tanks a little longer

Feb 27, 2014

The cost of propane, used to heat many homes in rural areas, is starting to come back down after skyrocketing due to icy weather and supply disruptions. But as Illinois Public Radio’s Peter Gray reports, homeowners concerned about the recent price spike might want to wait a bit longer to fill their tank. 
In the Midwest prices hit more than 4 dollars 19 cents per gallon in late January. That the highest price since 1990 when the Energy Information Administration started tracking propane weekly.

EIA analyst Mason Hamilton says that price is now falling because truckers have spent more hours on the road, after propane disaster declarations were issued:

"That has allowed propane delivery trucks to bring in supplies from further away - from other states, even from other regions of the country - in order to meet the needs of the Midwest." 

John Tibbs of the Illinois Propane Gas Association says if "conditions continue as they have", homeowners who heat with propane will see prices fall gradually. They may save another dollar per gallon if they wait until summer for their next propane refill.