WASHINGTON (FOX 5 DC) - Propane prices – just like everything else – is skyrocketing this winter. This is leaving people to bundle up or shell out lots of money to heat their homes.
The President of Fairfax Propane Chris DeCarlo says the price per gallon of propane has gone up $1 compared to last year.
"Basically the only thing I can say is you’re going to have to get used to it. I don’t see anything on the horizon that’s going to change the high price of fuels whether it’s gasoline, crude oil, propane or natural gas. We kind of got into this situation where we’re vulnerable," said Decarlo.
This is the first time since 2014 that the price of propane is higher than $1. Millions of people especially in rural areas rely on propane to heat their homes and cook.
DeCarlo says there have always been propane shortages and it is the most sensitive fuel because it’s a seasonal product. The big demand is always in the winter.
However, the FOX 5 the weather team is forecasting temperatures to be slightly above normal this winter for the DC region so people might not need to burn as much fuel to stay warm.
According to U.S. Energy Information Administration, prices are forecast to rise by more than 54% for propane. One reason for the surge in pricing is exports have drained domestic supply ahead of this heating season.
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"Once fracking started, that created an abundance of propane in the United States and that depressed the price. What happened over the past 4 years is the pipelines were built to be able to export propane to China and other countries and all of a sudden there’s no propane – relative to what the country needs – because a large portion of it is getting exported," said DeCarlo.
Those who use electricity to heat – are only expected to see a six percent increase in pricing.