U.S. propane prices fell from multiyear highs after a mild start to the winter

A mild start to this winter’s heating season caused U.S. propane prices to decline from the highest starting prices of a heating season since 2014. The wholesale propane price at the U.S. benchmark at Mont Belvieu, Texas, reached $1.51 per gallon (gal) on October 5, 2021, and has since declined to $1.30/gal as of January 31, 2022.