After reaching multiyear highs in March, propane spot prices at the Mont Belvieu distribution hub in Texas have steadily declined. Propane prices reached $1.64 per gallon (gal) for the week ending March 11, 2022, the highest inflation-adjusted price since February 2014. Propane prices have declined by 32% since March to $1.14/gal for the week ending July 29, according to data from Refinitiv, an LSEG business. Similar to other petroleum products, propane prices are connected to crude oil prices. Propane prices had been increasing along with a higher Brent crude oil price. Lower-than-average U.S. propane inventories ... (full story)