Propane prices are dipping but they’re still well above last year’s prices.
Back in January, experts feared Iowa would run out of propane by mid-February as prices climbed to $4 a gallon. Now, because of eased regulations on the trucking or propane, and more propane being piped to the Midwest, experts believe Iowa will have enough for the winter.
But prices remain high.
Last year at this time, propane sold for a $1.41 a gallon. Monday, the average price is $3.20 a gallon.
“This $3.20 level would have been a state record had it been any other year but this year,” market analyst Harold Hommes says. “Certainly supply is less of an issue. Price continues to be problematic. They’re fairly lofty levels by any means.”
Experts believe prices will continue to drop. They recommend only buying propane when you absolutely need it and shopping around for the best price.