How much will propane cost in 2023?

The price of propane is forecast to rise from $1.09 per gallon in 2020 to $1.17 per gallon in 2023, an increase of 6.8%. This price increase is due to rising costs for transportation and feedstock (the raw materials used to produce propane).Propane demand in Europe is forecast to grow from 1.4 million tons in 2020 to 1.6 million tons in 2023.

How has the propane market changed in 2022?

In 2020 and 2021, the propane market experienced historically low inventories that affected supply. 2022 saw a record amount of U.S. propane being transported to Europe, as a volatile geopolitical situation and atypical weather patterns resulted in exponentially high energy prices and extreme demand.

Will gas prices rise in 2023?

We don’t have a crystal ball to make a prediction if the price of propane, crude oil and other natural gas will rise in 2023. But market indicates that the trend will continue throughout this year.

How much is winter propane worth?

If we were to be lucky enough for that spread to hold while propane prices fall in the next couple of months to say the 108.33 cents mentioned above, that would make winter propane valued at around 96 cents. Crude prices must stay where they are now and not go up, as many predict.