Since mid-September 2020, propane prices at Mont Belvieu, Texas, the main U.S. hydrocarbon gas liquids (HGL) hub, have increased 120%, from $0.51 per gallon (gal) in the week ending September 11, 2020, to $1.12/gal in the week ending September 10, 2021 (Figure 1). Current propane wholesale prices are at their highest weekly average levels since February 2014. The recent rise in U.S. propane prices has occurred at a time when U.S. propane production, which averaged 2.3 million barrels per day (b/d) from January to June, is significantly higher than average domestic consumption (we report consumption as product supplied). …

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