Propane rose to 0.74 USD/Gal on July 11, 2025, up 0.54% from the previous day. Over the past month, Propane's price has fallen 2.75%, and is down 8.50% 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 July 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.

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).

Rack Prices - Heating Fuel Prices by date

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.

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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.

The Propane market in the US is experiencing significant growth, driven by advancements in propane storage and transportation technologies. These innovations have increased the efficiency and safety of propane handling, making it an attractive alternative fuel for various industries, including residential, commercial, and industrial sectors. Furthermore, the development of renewable propane, derived from natural gas processing and biomass, is expanding the market's reach and reducing its carbon footprint. However, the market's growth is not without challenges. Competitive alternative fuels, such as natural gas and electricity, are gaining popularity due to their lower carbon emissions and increasing affordability. To capitalize on market opportunities and navigate these challenges effectively, companies must focus on improving propane's competitiveness through cost reduction, efficiency gains, and the adoption of cleaner production methods.
Additionally, collaboration with government agencies and industry associations to promote the use of propane as a clean and efficient fuel source can help mitigate competition and strengthen the market's strategic landscape.

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

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The propane market in the US continues to evolve, driven by various factors including propane technology advancements, alternative fuel infrastructure development, and grid modernization projects. Propane's versatility as an energy source, coupled with its environmental sustainability initiatives such as emission reduction and renewable energy integration, positions it as a key player in the energy transition. Propane's adoption is further boosted by smart grid deployment and energy efficiency standards, as well as the increasing focus on energy security policies and sustainable development goals. Propane's competition with natural gas and the emergence of alternative fuels like hydrogen and biodiesel, as well as electric vehicle infrastructure, necessitate continuous innovation and cost savings through propane efficiency improvements, system maintenance, and demand forecasting.
Propane's role in clean energy investments, carbon offsetting programs, and carbon capture technologies also contribute to its market outlook. Propane's price volatility, safety training, and delivery logistics remain critical areas of focus, while regulations compliance and appliance repair are essential for maintaining consumer trust and market growth. Overall, the propane market's future direction is influenced by the interplay of these factors and the evolving energy landscape.

How is this market segmented?

The market 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

  US

By End-user Insights

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

Propane, a versatile energy source, plays a significant role in various industries and applications in the US. Its demand is influenced by economic activity, particularly in manufacturing and construction sectors, where propane is used for heating, processing, and other applications. Cold weather increases the demand for propane in industries such as agriculture, food processing, and construction, which rely on it for heating and drying. Seasonal fluctuations in weather patterns also impact short-term demand. Propane competes with other energy sources, including natural gas, electricity, and heating oil. The relative cost of propane versus these alternatives influences demand.

Propane is also used in various applications, such as forklifts, buses, generators, cooking, and heating, offering energy security and independence. Propane innovation continues to drive the market, with advancements in green technology, energy storage, carbon capture, and renewable fuels. Sustainable development and environmental sustainability are key considerations, with regulations focusing on reducing greenhouse gas emissions and improving energy efficiency. The market also includes propane retailers, suppliers, and distributors, offering various services such as fueling, delivery, and conversion. The industrial sector's demand for propane is expected to remain strong, driven by its versatility, efficiency, and competitiveness.

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United States - Propane Prices: Mont Belvieu, Texas was 0.77800 $ per Gallon in January of 2024, according to the United States Federal Reserve. Historically, United States - Propane Prices: Mont Belvieu, Texas reached a record high of 1.46400 in January of 2011 and a record low of 0.26000 in January of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Propane Prices: Mont Belvieu, Texas - last updated from the United States Federal Reserve on July of 2025.

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

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

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by 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 Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-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, accelerate economic growth, 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.

New York Energy Prices presents retail energy price data. Energy prices are provided by fuel type in nominal dollars per million Btu for the residential, commercial, industrial, and transportation sectors. This section includes a column in the price table displaying gross domestic product (GDP) price deflators for converting nominal (current year) dollars to constant (real) dollars. To convert nominal to constant dollars, divide the nominal energy price by the GDP price deflator for that particular year. Historical petroleum, electricity, coal, and natural gas prices were compiled primarily from the Energy Information Administration. How does your organization use this dataset? What other NYSERDA or energy-related datasets would you like to see on Open NY? Let us know by emailing OpenNY@nyserda.ny.gov.

The global propane market, valued at $132,410 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 1.9% from 2025 to 2033. This growth is driven primarily by increasing demand from the petrochemical industry, where propane serves as a crucial feedstock for producing polypropylene and other valuable chemicals. Furthermore, the expanding residential and commercial heating sectors, particularly in regions with colder climates, contribute significantly to propane consumption. Growing awareness of propane's cleaner-burning properties compared to other fossil fuels also fuels its adoption. However, market growth faces challenges such as price volatility influenced by fluctuating crude oil prices and the ongoing transition towards renewable energy sources. Competition from alternative fuels like natural gas and electricity in certain applications also poses a restraint. The market segmentation, while not explicitly detailed, likely includes distinct categories based on application (e.g., petrochemicals, residential heating, industrial uses) and geographical distribution, reflecting varying market dynamics in different regions. Major players like ExxonMobil, BP, Chevron, Shell, TotalEnergies, and Sinopec dominate the market, leveraging their established infrastructure and distribution networks. The forecast period (2025-2033) anticipates a continuation of the current growth trajectory, although the rate might fluctuate slightly year-on-year due to economic conditions and geopolitical factors. To ensure sustained growth, industry players are likely focusing on enhancing operational efficiency, expanding into new markets, and exploring opportunities within the evolving energy landscape. Investment in propane storage and infrastructure is also crucial for mitigating supply chain vulnerabilities and ensuring reliable access for consumers. The strategic partnerships and mergers & acquisitions observed within the industry signify the increasing importance of consolidating market share and optimizing resource allocation. A deeper understanding of specific regional trends and regulatory changes impacting propane distribution will be crucial for forecasting the market's long-term development.

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.

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 https://nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

Rack Prices - Heating Fuel Prices by date

Get the latest insights on price movement and trend analysis of Propane-1,2-diol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by 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 Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-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, accelerate economic growth, 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.

United States - Consumer Price Index for All Urban Consumers: Propane, Kerosene, and Firewood in U.S. City Average was 427.21200 Index Dec 1986=100 in July of 2024, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Propane, Kerosene, and Firewood in U.S. City Average reached a record high of 461.69000 in January of 2022 and a record low of 101.60000 in July of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Propane, Kerosene, and Firewood in U.S. City Average - last updated from the United States Federal Reserve on July of 2025.

Suburban Propane Partners PE ratio as of June 23, 2025 is 19.55. Current and historical p/e ratio for Suburban Propane Partners (SPH) from 2010 to 2025. The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. The PE ratio is a simple way to assess whether a stock is over or under valued and is the most widely used valuation measure. Please refer to the Stock Price Adjustment Guide for more information on our historical prices.

The US propane market, a significant segment of the broader North American propane landscape, exhibits robust growth potential. Driven by increasing demand from residential heating, particularly in colder regions, and the industrial sector for processes requiring fuel and feedstock, the market is projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This growth is further fueled by the rising adoption of propane autogas in the transportation sector, offering a cleaner-burning alternative to gasoline and diesel. While the commercial sector remains a key consumer, the expansion of propane usage in niche industrial applications, such as agricultural drying and food processing, contributes to overall market expansion. Furthermore, ongoing investments in propane infrastructure, particularly storage and distribution networks, enhance market efficiency and accessibility. However, factors such as fluctuating crude oil prices, which directly influence propane costs, and the increasing availability of competing energy sources, represent potential restraints. The market's segmentation reveals a diverse consumer base. Residential consumption dominates, fueled by home heating and cooking needs, especially in rural and suburban areas. The commercial sector utilizes propane for heating, powering forklifts, and other operational needs. Industrial applications range widely, from chemical manufacturing to agricultural uses. The transportation segment, though smaller currently, exhibits substantial growth potential given environmental regulations and the advantages of propane autogas. Key players, such as AmeriGas Propane, Ferrellgas, and Suburban Propane, dominate the market through extensive distribution networks and established customer bases. However, increased competition from smaller regional distributors and evolving energy solutions necessitates ongoing innovation and strategic partnerships to maintain market share. The forecast for the US propane market indicates sustained growth, driven by diverse applications and a relatively stable regulatory environment. Recent developments include: December 2022: Suburban Propane Partners, L.P. acquires assets for the production of renewable natural gas ("RNG") from Equilibrium Capital Group. The collaboration was developed to serve as a long-term growth platform for the identification, development, and management of further RNG projects, resulting in the acquisition of two biogas facilities that were already in operation., August 2022: AmeriGas has just acquired a forklift cylinder exchange in the state of Florida. This purchase will allow the company to increase its presence and reach in the rapidly expanding Florida market. AmeriGas will be able to continue its expansion in South Florida because of the outstanding opportunity presented by this acquisition.. Key drivers for this market are: Increase in Demand from Residential and Transportation Sectors, Demand in the Petrochemical Industry. Potential restraints include: Increase in Demand from Residential and Transportation Sectors, Demand in the Petrochemical Industry. Notable trends are: The Residential Segment to Dominate the Market.