Iowa is already seeing record high propane prices. Now one expert says, the state could run out of the gas by mid-February.
State legislators heard from industry experts Monday. They described what they’re calling the “Perfect storm” which led to a shortage of propane in the Midwest driving up costs to $5 a gallon in some areas.
The experts blame an increase in propane usage for drying grain along with an unusually cold winter for the shortage. And at this rate, they say, stored propane could run out.
“Last week there was a 1.2 million barrel draw in the Midwest inventory,” said Jeff LaPan with CHS Propane.
“The week prior was a million six. So if we have somewhere around five million, lets say that leaves us five million left. At that pace we could potentially run out of propane in the caverns sometime in mid-February.”
Experts are asking propane users to lower the temperatures in their homes. Lawmakers, meanwhile, are drawing up legislation to free up $1-million for low income propane users to buy more gas.