Propane Shortage in U.S. Sends Prices Jumping

The cost of a gallon is up nearly 20 cents in a month

   

Propane Shortage in U.S. Sends Prices Jumping

A nationwide propane shortage has hit the U.S. due to increased propane demand during the polar vortex.

Propane prices have skyrocketed due to the propane shortage with prices up close to 20 cents in a month to a national average of $3.48. Rhode Island has the most expensive propane prices with $4.01 a gallon while Nevada has the lowest at $1.92 per gallon.

Propane is used by more than 14 million families to fuel furnaces, water heaters, air conditioners, fire places and more.  It is also used by over 850,000 U.S. farmers for farm equipment including irrigation pumps.

The propane shortage could affect crops as the fuel is essential for crop drying, fruit ripening and food refrigeration.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/propane-shortage/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.