Retail Propane Prices Spike Due to Shortages
Propane gas prices in Iowa have doubled in the last month due to a high demand in supplies because of the recent colder than normal temperatures in the Midwest.
Supplies were lower than normal coming into the heating season because of high demand by farmers to dry their corn crops this year. That, plus distribution problems in getting propane supplies to Iowa have caused prices to jump. A pipeline was shut down for a month, causing a disruption in supply.
Senator Chuck Grasso is investigating these increases. He is asking the Federal Trade Commission to look into if there is price gouging or speculation involved.
Iowa typically has some of the lowest propane prices in the United States. This doesn’t mean that you shouldn’t be comparing propane gas prices to find the best prices. Below is a link that shows the average weekly prices for Iowa as reported by the EIA.