Spring has technically sprung and, though the weatherman says the East Coast will get a sprinkling of snow tomorrow, that has got to be the winter’s last hurrah. Good riddance. Meantime, in the state of Maine, there are more chilly nights in the forecast. But that hasn’t stopped the downtrend on propane prices there.
The average retail price for a gallon of propane fell another two cents this week, according to today’s report from the Maine Public Broadcasting Network. (The price is calculated from a survey of state dealers, based on a 925-gallon burn for the year.) It’s a modest decline compared with the 12-cent drop from the previous week, but adds a little momentum to an overdue downtrend.
Looking at the last days of the 2010-2011 heating season, propane demand seems to be slackening. The national inventory rose 300,000 barrels last week to post its first increase of the year, according to federal data, and that should ease some of the pressure on prices. Though it’s not all gumdrops on the retail side. Oil prices are hovering near two-year highs, supported by anxieties over the Middle East, and prices at the big propane hub in Texas have followed suit.