Saturday, November 7, 2026. Global seaborne LPG trade is shrinking this year, but US exports keep climbing and now make up more than half of the world’s shipments. Oil just finished one of its worst weeks in months, yet home propane is still $2.820 a gallon.
Check your state on our propane price by state page and follow all our propane and LPG news.
Today’s News at a Glance
- Global LPG trade is down 12%. So why are US exports still rising? America now ships more than half of the world’s seaborne LPG. See what that means for supply at home
- WTI just lost about $14 in a week. Crude can fall hard without your propane bill moving the same day. See what drove the sell-off
- A Texas LPG terminal just declared force majeure on butane. Asia is watching Freeport, one of the biggest US export docks. See how export hits can ripple home
- Premium Asia propane prices just juiced a big midstream quarter. Strong foreign demand can pull North American supply toward the docks. See why Asia still bids up propane
- US LNG feedgas just hit a record 21.4 bcf a day. Cooler mid-November weather is also lifting near-term gas prices. See the gas and storage numbers
- Federal forecasters say propane households may spend less this winter. Heating oil users face a much steeper bill. See the EIA winter fuel outlook
- Two school fleets say propane beat diesel on cost and kept buses running when EVs stalled. One district pays $1.93 a gallon for propane versus over $5 for diesel. See the fleet savings numbers
Propane Price Update Today
No new EIA residential survey is out today. The latest week still shows home propane at $2.820 a gallon, up 8.9 cents from the week before and 37.5 cents from a year ago.
| Item | Latest | Previous | Year ago |
|---|---|---|---|
| US average residential propane | $2.820/gal (week of Nov 2, 2026) | $2.731/gal (week of Oct 26) | $2.445/gal (week of Nov 3, 2025) |
| Mont Belvieu wholesale propane | $1.195/gal (Nov 3) | $1.209/gal (Nov 2) | $0.635/gal (Nov 3, 2025) |
| Henry Hub natural gas | $2.63/MMBtu (Nov 3) | $2.54/MMBtu (Nov 2) | Not listed in our sources |
| WTI crude | $90.00/bbl (Nov 6 trading) | $99.64/bbl (Nov 3, FRED) | Not listed in our sources |
Previous prices: the US average was $2.731 a gallon in the week of October 26 and $2.686 the week before that. North Dakota is cheapest at $1.838 and Florida the most expensive at $5.149 (EIA, week of November 2, 2026). The next EIA survey is due Thursday, November 12, a day late because of Veterans Day.
All states are on our state-by-state propane price page, and last week’s full numbers are in our weekly US propane price report.
Top Story: US LPG Exports Keep Growing as the World’s Trade Shrinks
- Global seaborne LPG exports fell 11.7% year on year in January–September 2026, to 102.7 million tonnes.
- US exports rose 6.3% to 56.9 million tonnes and now account for 55.4% of world seaborne LPG trade.
- GCC shipments collapsed 57% to 12.1 million tonnes, down to just 11.8% of global exports.
- China is still the top destination for US LPG, but volumes on that route keep falling while shipments to India surged.
Shipbroker Banchero Costa, in a weekly note carried by Hellenic Shipping News on Saturday, said four years of rising global LPG trade broke in 2026. Total seaborne exports in January–September fell 11.7% to 102.7 million tonnes, based on LSEG vessel tracking.
The US moved the other way. Exports climbed another 6.3% to 56.9 million tonnes and now make up 55.4% of all seaborne LPG shipments. Gulf Cooperation Council exports collapsed 57% to 12.1 million tonnes, including 3.5 million from the UAE and 2.8 million from Saudi Arabia.
Top US loading ports were Houston (24.4 million tonnes), Beaumont (16.2 million) and Freeport (6.9 million). Mainland China was still the largest buyer of US LPG, at 16.4% of US exports, well below the 29.5% peak in 2024. US volumes to China fell another 7.2% this year to 9.3 million tonnes, while shipments to India surged 282% to 4.7 million tonnes.
For US home buyers, heavy exports can tighten domestic supply when winter demand rises. That helps explain why Midwest stocks have already slipped below their five-year average even as the Gulf Coast still holds most of the national surplus.
More Propane and Energy News
Oil finishes a brutal week after the midterms
December WTI was headed for one of its roughest weekly losses in months, OilPrice reported Friday. The contract shed about $11.37, or 11.1%, from its weekly open near $102.39, hit a low around $86.65, and later traded near $90.00.
Traders stripped out part of the Iran war premium after Democrats regained Congress and markets bet on less escalation. For propane buyers, crude is only one driver. Stocks, exports and winter weather still matter more for the weekly EIA home price.
Freeport butane outage adds Asia LPG risk
OPIS reported Friday that Phillips 66 declared force majeure on butane exports from its Freeport LPG terminal after a power outage and compressor problem, according to a Saturday market note. Freeport loaded 6.9 million tonnes of US LPG in January–September, so even a short stop gets noticed.
The same report said Asian crackers may cut LPG use in December as propane and butane look less attractive than naphtha. Export snags can tighten wholesale propane and butane before the move reaches your tank.
Asia propane premiums lift Canadian NGL earnings
Pembina Pipeline said its third-quarter outperformance came mostly from premium propane prices in Asian markets late in the quarter through West Coast exports. Adjusted EBITDA rose 9% to CAD 1.128 billion, and Marketing & New Ventures jumped 69% to CAD 167 million.
CEO Scott Burrows said that Asia exposure provided a significant uplift. CFO Cameron Goldade called the market “very frothy” and said Pembina raised 2027 hedges to about 55% after locking in some of those gains.
Natural gas climbs on cooler forecasts and record LNG flows
December Nymex natural gas closed up 1.73% on Friday, Barchart reported via Yahoo Finance. Forecasts turned cooler across the central and eastern US through November 20, and LNG net flows to US export terminals rose to a record 21.4 bcf/day.
EIA storage still rose 77 bcf in the week ended October 30, leaving inventories 1.4% above the five-year average. Most US propane comes from natural gas processing, so strong gas output usually means more propane over time.
Winter outlook: propane spending flat while heating oil jumps
A Friday Patch report on the EIA’s 2026-27 Winter Fuels Outlook said Southern households that heat with propane are forecast to spend about $1,164 from November through March, essentially unchanged from last winter. The regional propane price is projected near $3.19 a gallon, about 1% lower.
Nationally, propane households are expected to spend about 3% less. Heating oil households face average spending of $2,115, up 21%, with prices projected near $5.26 a gallon. Your real bill still depends on weather, tank size and contract terms.
School districts pick propane for cost and reliability
School Transportation News reported Friday that Loudoun County Public Schools in Virginia runs 30 propane buses in a 513-bus fleet. The first 15 propane buses hit 100% uptime, and the district pays about $1.93 a gallon for propane versus more than $5 for diesel.
Norwalk Public Schools in Connecticut saved about $90,000 in fuel in year one, plus roughly $250,000 in federal reimbursements. Blue Bird cited Bibb County, Georgia, at 39 cents a mile on propane versus 66 cents on diesel, about $540,000 a year across 2 million miles.
What it means for you
- Export pull is real: US LPG now dominates world trade, so strong Asia and India demand can keep Mont Belvieu firm even when crude crashes.
- Do not wait for oil headlines to cut your bill. Watch the next EIA residential survey on November 12 and your dealer’s posted rate.
- Before you lock a winter contract, review the common hidden fees in propane contracts.
- If you heat with propane in the South, the federal outlook points to flat or slightly lower spending, but a cold snap can still raise deliveries fast.
What to watch next
- How long the Freeport butane force majeure lasts, and whether propane loadings are affected.
- Whether US LPG exports stay above half of global trade as winter heating demand rises.
- The next EIA propane stocks and home price data on Thursday, November 12.
- Iran diplomacy and Gulf shipping, which still swing crude day to day.
- Our complete guide to US propane prices explains what drives your bill.
More updates in US Propane Prices.
