Propane increased 0.10 USD/GAL or 13.33% since the beginning of 2025, 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 March 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.

The global fuel energy price index stood at 188.62 index points in January 2025, up from 100 in the base year 2016. Figures increased that month due to a rise in crude oil prices as a result of new sanctions on Russian oil and greater heating fuel demand. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

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.

Graph and download economic data for Propane Prices: Mont Belvieu, Texas (WPROPANEMBTX) from 1992-07-03 to 2025-03-21 about mont belvieu, propane, commodities, and USA.

United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Propane Gas: Spot Price: Mont Belvieu data was reported at 1.179 % in 10 Mar 2025. This stayed constant from the previous number of 1.179 % for 03 Mar 2025. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Propane Gas: Spot Price: Mont Belvieu data is updated weekly, averaging 0.122 % from Feb 2020 (Median) to 10 Mar 2025, with 265 observations. The data reached an all-time high of 9.898 % in 12 Feb 2024 and a record low of 0.000 % in 16 Dec 2024. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Propane Gas: Spot Price: Mont Belvieu data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Retail Sales.

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Rack Prices - Heating Fuel Prices by date

The retail price of liquefied petroleum gas (LPG) in the Netherlands stood at 75 euro cents on July 1, 2024. This figure represents a slight increase of less than one euro cent in comparison to the previous year. Often referred to as autogas when used as a fuel for motor vehicles, LPG generally has a lower energy density than petrol or fuel oil. Compared to the price of unleaded 95 octane fuel, LPG is significantly cheaper. LPG cars have lower average purchase price In regard to the average purchase price of new passenger cars, LPG-fueled vehicles tend to be the cheapest option for drivers in the Netherlands. Diesel cars are among the most expensive out of all petroleum-fueled vehicles, with prices more than three times those for LPG cars. Netherlands among EU countries with highest fuel prices The Netherlands generally has some of the highest fuel prices in the European Union. In June 2023, the average price for gasoline was above 1.8 euros per liter. This put the Netherlands ahead of neighboring Germany, but below other large car markets Italy and France, which were even more expensive. Fuel prices are primarily determined by crude oil prices and crude availability in addition to subsidies and taxes that may be imposed.

According to Cognitive Market Research, the global Propane market size will be USD 8742 million in 2025. It will expand at a compound annual growth rate (CAGR) of 4.20% from 2025 to 2033.

North America held the market share of around 30% of the global revenue with a market size of USD 2447.76 million in 2025 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2025 to 2033.
Europe accounted for a market share of 25% of the global revenue with a market size of USD 2141.79 million.
APAC held a major market share of 36% of the global revenue with a market size of USD 3147.12 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2025 to 2033.
South America has a market share of 4% of the global revenue with a market size of USD 332.20 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2025 to 2033.
Middle East had a market share of 4% of the global revenue and was estimated at a market size of USD 349.68 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2025 to 2033.
Africa had a market share of 3.70% of the global revenue and was estimated at a market size of USD 323.45 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2025 to 2033.
Gas category is the fastest growing Form segment of the Propane industry

Market Dynamics of Propane Market

Key Drivers for Propane Market

Increasing demand for clean energy alternatives to reduce greenhouse gas emissions drives market growth

As environmental concerns over climate change intensify, there is an increasing shift toward clean energy solutions, and propane is seen as an efficient, low-emission alternative to traditional fossil fuels. Propane produces significantly fewer greenhouse gases compared to coal, gasoline, and diesel. As per the International Energy Agency (IEA), the global renewable electricity generation is forecast to climb over 17,000 TWh by the end of the decade, a 90% increase from 2023. Renewables are projected to surpass coal in 2025, and solar PV is expected to become the largest renewable power source globally by 2029, outstripping hydropower. Governments and industries are investing in clean technologies, and propane, being a cleaner-burning fossil fuel, stands out as a suitable option for industries looking to reduce their carbon footprint. This rising demand for cleaner energy fuels the market’s growth by driving investments in propane production, infrastructure, and adoption across various sectors.

https://www.iea.org/energy-system/renewables

Growing use of propane in transportation as a cleaner fuel option

Propane is increasingly being adopted as an alternative fuel in the transportation sector, particularly in fleet operations. It is a cleaner-burning fuel compared to gasoline and diesel, with lower emissions of carbon monoxide, nitrogen oxides, and particulate matter. As per the IEA, in 2021, renewables accounted for 3.9% of total transport energy consumption, with the bulk of this being biofuels (3.5%) and the rest renewable electricity (0.4%) Additionally, propane-powered vehicles benefit from lower fuel costs, making it an attractive option for public transportation, delivery fleets, and other commercial vehicle sectors. The rise of government incentives and environmental policies promoting alternative fuels supports the adoption of propane in transportation, which accelerates its market penetration.

https://www.ren21.net/gsr-2024/modules/energy_demand/03_renewables_in_transport/

Restraint Factor for the Propane Market

Volatility in propane prices due to dependency on oil and natural gas markets hinders market growth

Propane prices are highly influenced by fluctuations in the global oil and natural gas markets, making the market susceptible to price volatility. The interconnectedness with crude oil prices, geopolitical tensions, and natural gas supply disruptions can cause sharp price swings, affecting both consumers and suppliers. This volatility makes propane less predictable as a fuel source for industries and households, potentially limiting its widespread adoption. The uncertainty in pricing could also deter investments in propane infrastructure and technology, slowing overall market growth.

Market Trends in Propane Market

Increasing adoption of propane-powered vehicles for fleet operations

Propane-powered vehicles are becoming more ...

This dataset contains weekly retail prices of three grades of gasoline, diesel, auto propane and compressed natural gas in 10 Ontario markets. Prices are in cents per litre (with compressed natural gas prices in cents per gasoline-equivalent litres). To view charts and current fuel price data you can also visit the motor fuel prices page. This data is related to: * Motor fuel prices * Law: Fuel Tax Act Related data: * Fuel and gasoline tax registrant list

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on March of 2025.

Sri Lanka Petroleum Price: Local: LP Gas: Shell Gas data was reported at 114.480 LKR/kg in 2017. This records an increase from the previous number of 105.680 LKR/kg for 2016. Sri Lanka Petroleum Price: Local: LP Gas: Shell Gas data is updated yearly, averaging 63.120 LKR/kg from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 191.680 LKR/kg in 2013 and a record low of 16.540 LKR/kg in 1992. Sri Lanka Petroleum Price: Local: LP Gas: Shell Gas data remains active status in CEIC and is reported by Central Bank of Sri Lanka. The data is categorized under Global Database’s Sri Lanka – Table LK.P008: Petroleum Price.

The Average Residential Retail Kerosene Prices dataset provides New York residents and businesses with objective information on average residential retail kerosene pricing in New York State and by region beginning September 4, 2000. 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 Kerosene Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/kerosene/average-kerosene-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 Twitter, Facebook, YouTube, or Instagram.

The global propane market, valued at $21.24 billion in 2025, is projected to experience robust growth, driven by increasing industrial and commercial demand, particularly in developing economies. A compound annual growth rate (CAGR) of 6.28% from 2025 to 2033 indicates a significant expansion of the market over the forecast period. Key drivers include rising energy consumption across diverse sectors, growing adoption of propane as a cleaner-burning alternative fuel, and its versatility in applications ranging from heating and cooking to industrial processes like plastics manufacturing and agricultural drying. Expanding infrastructure and supportive government policies in several regions also contribute to market growth. However, price volatility linked to crude oil prices and the potential impact of stricter environmental regulations present challenges for market expansion. The market is segmented by end-user (industrial, commercial, residential, others), grade type (HD-5 propane, HD-10 propane, commercial propane), and type (gas, liquid). Major players like Air Liquide SA, BP Plc, and Chevron Corp. are leveraging strategic partnerships, acquisitions, and technological advancements to maintain a strong market position and meet escalating demand. The competitive landscape is dynamic, with companies focusing on optimizing supply chains, enhancing product offerings, and expanding into new geographical markets to capture market share. Residential propane use shows significant growth potential, fueled by the increasing preference for reliable and cost-effective heating solutions, especially in regions with limited access to natural gas networks. The market’s growth trajectory will be significantly influenced by global economic conditions, energy policies, and technological advancements in propane handling and storage. The industrial sector's consumption is expected to remain a substantial growth engine, driven by the expanding manufacturing and processing industries. Growth in developing nations, particularly in Asia and Africa, is likely to be considerably higher than in mature markets, owing to their rapidly growing economies and infrastructure development. While price fluctuations and regulatory changes pose risks, the inherent advantages of propane – its ease of storage, transportation, and efficient combustion – will continue to sustain market growth throughout the forecast period, attracting significant investment in the upstream and downstream sectors of the propane supply chain. The segmentation of the market offers various opportunities for niche players to cater to the specific requirements of different user segments and applications.

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.

In 2021, the average price per metric ton of LPG in Japan amounted to over 80.7 thousand Japanese yen, which represents an unusual spike. Figures peaked in fiscal 2013, reaching over 93 thousand yen, but decreased in subsequent years. LPG is a by-product that emerges when natural gas or crude oil is processed.

10 Global import shipment records of Propane Gas with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Canada Avg Price: Auto Propane: Retail incl Taxes: Volume Weighted data was reported at 0.890 CAD/l in Jul 2018. This records an increase from the previous number of 0.887 CAD/l for Jun 2018. Canada Avg Price: Auto Propane: Retail incl Taxes: Volume Weighted data is updated monthly, averaging 0.550 CAD/l from Jan 1991 (Median) to Jul 2018, with 331 observations. The data reached an all-time high of 1.056 CAD/l in Feb 2014 and a record low of 0.240 CAD/l in Feb 1992. Canada Avg Price: Auto Propane: Retail incl Taxes: Volume Weighted data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Global Database’s Canada – Table CA.P006: Average Price: Automotive Natural Gas and Propane.

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 1.53 U.S. dollars per kilogram. In contrast, the average residential LPG price in Ecuador stood at around 0.1 dollars per kilogram.