Propane Stocks Post Sixth Consecutive Weekly Build

Warmer temperatures have eased demand for propane gas, resulting in another weekly build of national propane inventories. (image: nipropane.com)

Propane stocks have risen for the sixth consecutive week, adding 1.2 million barrels.

Figures released Thursday by the Energy Information Administration show US propane reserves stood at 32.8 million barrels last week – the equivalent of 38.8 days’ supply. At the same time a year ago the nation had 41.7 million barrels in reserve, or 41.2 days’ supply.

The largest build in stocks was in the Midwest region, which added 600,000 barrels last week. The Gulf Coast added 400,000 barrels, the East Coast region added 100,000 barrels and the Rocky Mountain/West Coast regional stocks remained unchanged.

The EIA said last week that national propane stocks were tracking below the average range for this time of year. The slower build of stocks reflects a colder than normal spring and higher overseas demand for the gas.

But stocks have now added 6.4 million barrels during the last six weeks as temperatures warm and people use less propane fuel to heat their homes.