People who use liquid propane to heat their home will be forced to pay a premium as prices have increased nearly 50 cents per gallon since October.
While there isn't a shortage in propane supply, consumers are feeling the results of a strained transportation and infrastructure system that is "masquerading as a propane shortage," according to Joe Rose, president of the Propane Gas Association of New England.
New England uses 7 percent of our nation's liquid propane supply, but only has a 1 percent storage capacity, Rose said. Furthermore, a pipeline from Texas to Albany, NY has been working under reduced capacity because of shale oil production. This has led to a price increase of 40 cents per gallon since October.
Rose said the price spike will only be temporary.
"Currently the New England region is adequately supplied and the short term outlook for continued supply is positive with waterborne imports scheduled to arrive over the next several weeks," Rose said. "Our goal is to ensure that everyone stays warm and safe."
Earlier this month the Propane Gas Association of New England shared important information to help propane consumers stay safe during frigid temperatures. This week, temperatures will be dropping again, and whenever it gets this cold, everything slows down.
Here are some important steps consumers should take:
The Propane Gas Association of New England offers an interactive online safety module at www.propanesafety.com/winterstorm-preparedness for business and homeowners to stay safe when preparing for or recovering from winter weather.
Copyright 2014 WSHM (Meredith Corporation).All rights reserved.