Propane Price History and Forecast Analysis Provided by Procurement Resource

Business Technology

Propane or liquefied petroleum gas (LPG) (C3H8) is a three-carbon alkane which is derived as a co-product of crude oil and natural gas refining. The gas is a member of the hydrocarbon family and is colourless and odourless.

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Its respective melting and boiling point is -187.7°C (-305.9°F) and -42.25°C (-44.05°F). It does not dissolve in water but has solubility in organic solvents like acetone and ethanol.

Key Details About the Propane Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Propane price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Propane Price chart, including India Propane price, USA Propane price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Propane Price Trend:

The demand for propane is significantly driven by its crucial role as a feedstock in the production of petrochemicals such as propylene and polypropylene, and its use as a refrigerant. Functioning as a clean-burning fuel, propane serves as a substitute for petrol and diesel in vehicles. Beyond its application as a fuel, propane is extensively utilized for heating residential homes, businesses, and commercial facilities. Additionally, it plays a pivotal role in various agricultural and industrial settings, powering kilns, forklifts, boilers, and irrigation pumps.

Several factors, including agricultural production, industrial output, economic growth, fuel pricing, environmental laws, and the availability of alternative fuels, contribute to the demand for propane. Monitoring the propane price trend, propane price index, and overall propane prices is essential in understanding the market dynamics associated with this versatile commodity.

Key Players:

  • AmeriGas Propane, Inc
  • Royal Dutch Shell (Shell)
  • Saudi Arabian Oil Co
  • GAIL (India) Limited
  • China Petrochemical Corporation (SINOPEC)

News & Recent Development

  • 1 June 2023- Propane price reduction by Saudi Aramco negatively impacted Gujarat gas, bringing costs to $9.8 per MMBtu in the Morbi region.

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

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Company Name: Procurement Resource
Contact Person: Amanda Williams
Email: sales@procurementresource.com
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Reference Link – https://theprocurementexpert.com/propane-prices-trends/

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