Propane rose to 0.69 USD/Gal on August 29, 2025, up 0.73% from the previous day. Over the past month, Propane's price has fallen 4.62%, and is down 9.45% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Propane - values, historical data, forecasts and news - updated on September of 2025.

The Average Residential Retail Propane Prices dataset provides New York residents and businesses with objective information on average residential retail propane pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by New York State Energy Research and Development Authority (NYSERDA) staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Propane Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/propane/average-propane-prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

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US Propane Market Size 2025-2029

The US propane market size is forecast to increase by USD 8.42 billion, at a CAGR of 6.6% between 2024 and 2029.

Major Market Trends & Insights

By End-user - Industrial segment was valued at USD 7.38 billion in 2022
By Grade Type - HD-5 propane segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 64.96 billion
Market Future Opportunities: USD 8.42 billion 
CAGR : 6.6%

Market Summary

The Propane market in the US continues to evolve, driven by advancements in storage and transportation technologies. According to recent industry reports, propane consumption in the US reached an estimated 46.4 billion gallons in 2021, representing a significant increase from the previous year. This growth can be attributed to the sector's versatility, as propane is used extensively in various industries, including residential, commercial, and industrial applications. Compared to traditional fuels, propane offers several advantages, including higher energy density and lower emissions. However, the market faces competition from other alternative fuels, such as natural gas and renewable energy sources.
In response, propane producers are focusing on the development of renewable propane, which is derived from renewable feedstocks, to maintain market share. Despite these challenges, the propane market remains a crucial component of the US energy landscape. Its widespread availability and adaptability across various sectors make it a preferred choice for many businesses, ensuring its continued relevance in the energy market.

What will be the size of the US Propane Market during the forecast period?

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The propane market in the US experiences consistent demand, with current usage accounting for approximately 11% of the total domestic energy consumption. Looking forward, market expansion is projected to reach over 2% annually, driven by increasing demand from various industries, including agriculture, construction, and commercial applications. Notably, propane's versatility and efficiency contribute to its growing popularity as a preferred energy source. In comparison, the consumption of propane in the US surpasses that of natural gas in certain sectors, such as agricultural drying and residential heating.
This trend underscores the significant role propane plays in the energy landscape. Moreover, the propane industry's ongoing advancements include the development of advanced metering systems, ensuring accurate and efficient billing, and the implementation of stringent quality control measures to maintain propane's purity. These innovations contribute to the industry's continued growth and evolution.

How is this US Propane Market segmented?

The propane in US industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Commercial
  Residential
  Others


Grade Type

  HD-5 propane
  HD-10 propane
  Commercial propane


Type

  Gas
  Liquid


Application

  Heating
  Cooking
  Power Generation
  Motor Fuel
  Industrial Processes
  Others


Geography

  North America

    US

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period.

The propane market in the US experiences significant fluctuations due to various factors. Industrial sectors, particularly manufacturing and construction, contribute to the market's growth as they rely on propane for heating, processing, and other applications. Cold weather increases demand in industries such as agriculture, food processing, and construction, where propane is utilized for heating and drying purposes. Seasonal weather patterns positively impact short-term demand, with approximately 45% of propane consumption occurring during winter months. Propane competes with alternative energy sources like natural gas, electricity, and heating oil. Price fluctuations in these energy markets influence the demand for propane.

For instance, a 10% increase in natural gas prices can lead to a 1.5% increase in propane demand. Additionally, the propane supply chain includes various components, such as pipeline capacity, distribution networks, and storage capacity. These elements impact the market's dynamics, with a 20% increase in pipeline capacity leading to a 5% rise in propane availability for industrial applications. Propane is also used as an autogas fueling solution, with commercial fleets and transportation companies adopting it due to its cost-effectiveness and environmental benefits. The market for propane autogas is projected to grow by 25% over the next five years.

Propane's high e

Get the latest insights on price movement and trend analysis of Propane in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Graph and download economic data for Propane Prices: Mont Belvieu, Texas from 1992-07-09 to 2025-08-25 about mont belvieu, propane, commodities, and USA.

The global propane market, valued at approximately $XX million in 2025, is projected to experience robust growth, exhibiting a compound annual growth rate (CAGR) of 4.33% from 2025 to 2033. This expansion is driven by several key factors. Increased demand from the petrochemical industry, particularly for propylene production, fuels significant market growth. Rising adoption of propane as a cleaner-burning alternative fuel in residential and commercial heating, as well as in transportation sectors (autogas), further contributes to the market's expansion. Developing economies, especially in Asia-Pacific, are witnessing rapid industrialization and urbanization, leading to a surge in energy consumption and consequently bolstering propane demand. Technological advancements in propane storage and handling, coupled with improved distribution infrastructure, enhance market accessibility and contribute to overall growth. However, price volatility linked to crude oil prices and the potential impact of alternative energy sources present challenges to sustained growth. Furthermore, stringent environmental regulations in some regions might necessitate investments in emission control technologies, potentially impacting market profitability. Major players like Air Liquide, BP, Chevron, Sinopec, PetroChina, ConocoPhillips, Eni, ExxonMobil, GAIL, Gazprom, Shell, Saudi Aramco, and Suburban Propane are key contributors to the market, leveraging their established infrastructure and distribution networks. Competition is intense, with companies focusing on strategic partnerships, capacity expansions, and technological innovations to maintain market share. Future growth will be shaped by government policies promoting cleaner energy solutions, evolving consumer preferences towards sustainable fuels, and the continuous development of downstream applications for propane derivatives. The market is segmented by various factors including application, region, and distribution channel, offering growth opportunities across multiple segments. The forecast period (2025-2033) anticipates continued expansion, although the pace might fluctuate based on macroeconomic conditions and global energy dynamics. Recent developments include: March 2022: KBR and ExxonMobil Catalysts and Licensing LLC ("ExxonMobil") will collaborate to bring significant advancements to propane dehydrogenation (PDH) technology. Under the collaboration, ExxonMobil's new proprietary catalyst technology will be combined with KBR's proprietary K-PRO Propane Dehydrogenation (PDH) technology to convert propane into propylene., October 2021: Suburban Propane Partners LP announced the extension of its 2020 agreement with U-Haul to provide eco-friendly and renewable propane in California.. Key drivers for this market are: Increase in Demand from the Residential and Transportation Sectors, Demand in the Petrochemical Industry. Potential restraints include: Increase in Demand from the Residential and Transportation Sectors, Demand in the Petrochemical Industry. Notable trends are: Residential Segment to Dominate the Market.

Why did the Liquified Petroleum Gas Price Change in July 2025? Liquefied Petroleum Gas (LPG) Price Index in China declined during Q2 2025, with Propane CFR Shanghai settling at USD 665/MT and Butane CFR Shanghai at USD 630/MT by early June.

Find in-season and off-season pricing for heating fuels, including heating oil, propane and wood price surveys by DOER. Links to electric and natural gas rates also available here.

In Latin America and the Caribbean, liquefied petroleum gas (LPG) is an important energy source in the residential sector. This fuel is frequently used in by households for cooking and heating. Nevertheless, prices vary significantly across countries. In 2020, households in Chile paid an average of **** U.S. dollars per kilogram. In contrast, the average residential LPG price in Ecuador stood at around *** dollars per kilogram.

In 2024, the Canadian liquefied petroleum gas (LPG) market decreased by -18.7% to $829M, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a pronounced reduction. Liquefied petroleum gas (LPG) consumption peaked at $1.3B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

Russia Avg Purchasing Price: OKPD2: Propane & Butane Liquefied data was reported at 22,476.410 RUB/Ton in Dec 2018. This records a decrease from the previous number of 25,713.330 RUB/Ton for Nov 2018. Russia Avg Purchasing Price: OKPD2: Propane & Butane Liquefied data is updated monthly, averaging 20,330.825 RUB/Ton from Jan 2017 (Median) to Dec 2018, with 24 observations. The data reached an all-time high of 30,582.390 RUB/Ton in Sep 2018 and a record low of 15,600.080 RUB/Ton in May 2017. Russia Avg Purchasing Price: OKPD2: Propane & Butane Liquefied data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.RBL011: Average Purchasing Price: Energy.

Get the latest insights on price movement and trend analysis of Liquefied Petroleum Gas (LPG) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In 2021, the average price per metric ton of LPG in Japan amounted to over **** thousand Japanese yen, which represents an unusual spike. Figures peaked in fiscal 2013, reaching over ** thousand yen, but decreased in subsequent years. LPG is a by-product that emerges when natural gas or crude oil is processed.

In the first quarter of 2025, the Liquefied Petroleum Gas (LPG) market in the North American region experienced significant price fluctuations, reflecting tight supply conditions, extreme weather events, and changing demand dynamics. A sharp price increase was seen at the beginning of the quarter due to the combined impact of severe winter storms, which heightened demand for heating fuels and led to inventory draws. Propane and butane prices surged, driven by increased consumption, higher crude oil and natural gas prices, and a surge in LPG exports.

United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane was 210.43900 Index Jun 1984=100 in January of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane reached a record high of 556.50000 in July of 2008 and a record low of 43.00000 in November of 1988. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane - last updated from the United States Federal Reserve on September of 2025.

Price for Liquefied Petroleum Gas (LPG) in the United States - 2023. Find the latest marketing data on the IndexBox platform.

Brazil BR: Weighted Average Price: LPG data was reported at 2.710 BRL/kg in 2023. This records a decrease from the previous number of 4.028 BRL/kg for 2022. Brazil BR: Weighted Average Price: LPG data is updated yearly, averaging 1.171 BRL/kg from Dec 2002 (Median) to 2023, with 22 observations. The data reached an all-time high of 4.028 BRL/kg in 2022 and a record low of 0.764 BRL/kg in 2002. Brazil BR: Weighted Average Price: LPG data remains active status in CEIC and is reported by National Petroleum, Natural Gas and Biofuels Agency. The data is categorized under Global Database’s Brazil – Table BR.PE010: Weighted Average Price: LPG.

Taiwan Wholesale Price: LPG: Industrial Use (IN): Propane: Shenao data was reported at 29.698 NTD/kg in Oct 2018. This records an increase from the previous number of 28.150 NTD/kg for Sep 2018. Taiwan Wholesale Price: LPG: Industrial Use (IN): Propane: Shenao data is updated monthly, averaging 23.515 NTD/kg from Jan 1999 (Median) to Oct 2018, with 238 observations. The data reached an all-time high of 37.568 NTD/kg in Dec 2013 and a record low of 10.180 NTD/kg in Mar 1999. Taiwan Wholesale Price: LPG: Industrial Use (IN): Propane: Shenao data remains active status in CEIC and is reported by Chinese Petroleum Corporation. The data is categorized under Global Database’s Taiwan – Table TW.P008: Wholesale Price: Liquefied Petroleum Gas.

The global Liquid Propane (LP) Barbecue market is experiencing robust growth, driven by increasing consumer demand for outdoor cooking and entertaining. This report analyzes the market's performance from 2019 to 2033, revealing a significant expansion. Let's assume, for illustrative purposes, a 2025 market size of $2 billion (USD) and a Compound Annual Growth Rate (CAGR) of 5% for the forecast period (2025-2033). This translates to substantial market expansion, exceeding $2.65 billion by 2033. Several factors contribute to this growth, including rising disposable incomes in developing economies, increased popularity of grilling and outdoor lifestyle activities, and the introduction of innovative LP barbecue models featuring enhanced features like smart technology and improved fuel efficiency. Major players like Napoleon, Weber, Char-Broil, and others are constantly innovating to meet evolving consumer preferences. However, market growth is not without challenges. Environmental concerns related to LP gas emissions and fluctuating energy prices pose potential restraints. The market also faces competition from alternative fuel sources, including natural gas and electric barbecues. Despite these challenges, the segment is expected to maintain its growth trajectory, driven by sustained consumer demand and continuous product improvements, particularly focusing on sustainable and efficient LP barbecue technology. Segmentation within the market includes various size categories (e.g., portable, large capacity), features (e.g., side burners, rotisseries), and price points, catering to diverse consumer needs and preferences. Regional growth patterns will likely vary, with North America and Europe expected to maintain strong positions, while emerging markets in Asia and Latin America will present significant opportunities for future expansion.

Saudi Arabia Fuel Prices: Retail: LPG data was reported at 1.040 SAR/l in Apr 2025. This stayed constant from the previous number of 1.040 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: LPG data is updated monthly, averaging 0.900 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 1.040 SAR/l in Apr 2025 and a record low of 0.750 SAR/l in May 2022. Saudi Arabia Fuel Prices: Retail: LPG data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]