Propane Industry News

During the latest mid-month period, prices at Mont Belvieu, Texas, increased. The posted prices increased 9.5 cents/gal, from September mid-month to October mid-month, and the spot prices increased 12.13 cents. Conway, Kansas, postings increased 4 cents/gal, and spots increased 4.25 cents over the month. 

October 18 is the start of Washington State’s official 18-day voting period. This year, voters will be presented with two ballot initiatives that have a direct and substantial impact on the state’s propane marketplace. The National Propane Gas Association (NPGA) and Pacific Propane Gas Association (PPGA) have endorsed both initiatives and promoted a YES vote on I-2066 and I-2117. 

Richmond, VA — Oct. 2024 — The Propane Education & Research Council (PERC) announced a new Double Propane Farm Incentive Program to assist farmers recovering from the devastating impact of the 2024 hurricane season. Available now through the end of the year, this program doubles the incentives available to qualifying producers for up to $10,000 off the purchase of propane-powered equipment. 

WASHINGTON (Oct. 17, 2024) — Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses, released its latest analysis, "Heat or Eat: The True Cost of Electrify-Everything Policies," revealing that American consumers could face a $149.2 billion increase in home heating and energy costs this winter heating season compared to last year if energy policies attempting to electrify everything were enacted.

In its Winter Fuels Outlook for the coming winter (released Oct. 8), the Energy Information Administration (EIA) expects U.S. households to see little change in their home heating costs compared to last year. While it ultimately depends on the household’s region and chosen heating fuel, the EIA reports “retail energy prices in our forecast are less than they were last winter, but temperatures across much of the country are set to be colder this year, meaning homes will use more energy for space heating.

Columbus, Ohio (Oct. 8, 2024) — The Worthington Enterprises Inc. board of directors announced Joseph Hayek as the company’s next president and chief executive officer (CEO) effective Nov. 1. Hayek, who currently is the company’s executive vice president, chief financial and operations officer, will replace Andy Rose, who is retiring.

Ray Murray Inc. (RMI) has announced the appointment of Jeff Hopsicker as vice president and minority owner. Hopsicker joins RMI after a decade of investment banking experience and has served as a member of RMI’s Board of Directors since November 2019. 

Anova, a remote tank monitoring company, has announced that Ray Cooper has been promoted to director of National Accounts. 

Jeff Landry (Louisiana) and Chris Sununu (New Hampshire) recently unveiled a new coalition to support smart state energy policies, including principally the policy of energy choice. According to the press release, “The Governors’ Coalition for Energy Choice will help state leaders formulate smart energy policies that will benefit working families, businesses, and our communities.” 

The Propane Education & Research Council (PERC) announced the launch of a new book by President and CEO Tucker Perkins, titled “Path to Zero: 12 Climate Conversations That Changed the World.” In this book, Perkins endeavors to showcase “pivotal discussions with global experts on climate change and sustainable energy solutions.”

West Palm Beach, FL (Sept. 25, 2024) — Blue Peak Resources, a merger and acquisitions consulting firm, announced the sale of Freedom Propane, Red Hook, New York, to Combined Energy Services of Monticello, New York.

Canada's primary underground propane inventories increased by 6.2% in September, according to the Canada Energy Regulator. The total represented a month-to-month increase of 98 Mcm. Compared to a year earlier, stocks were higher, with 15.5 Mcm, or 0.9%, more product on hand.

Propane storages in the West started September a bit higher at 1149.6 Mcm, which corresponds to 7.2 MMbbl, the agency reported. From August to September, volumes increased by 16.5 Mcm, or 1.5%, and were 137 Mcm more the year prior's level of 1012.6 Mcm.

From the NPGA Bobtail newsletter.