Propane Price Trends & Forecasts | Provided by Procurement Resource
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 Trends, 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:
Propane is a key feedstock used to produce petrochemicals like propylene and polypropylene, as well as a refrigerant. As it is a clean-burning fuel, it is used to fuel vehicles as a petrol and diesel substitute. In addition to its use as a fuel, it is used to heat up houses, businesses, and commercial facilities. Furthermore, it is employed in many agricultural and industrial applications to power kilns, forklifts, boilers, and irrigation pumps. Other factors besides its applications that influence the demand for the commodity include agricultural production, industrial output, economic growth, fuel pricing, environmental laws, and the availability of other alternative fuels.
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.
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