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Friday, November 6, 2026. The extra propane the US built up this summer is gone, and stocks in the Midwest are now below normal just as heating season starts. Oil is still headed for a steep weekly loss, but that has not reached home propane bills yet.
Check your state on our propane price by state page and follow all our propane and LPG news.
Today’s News at a Glance
- America’s propane cushion just disappeared. Is your region next to feel it? Stocks are now below last year, and the Midwest is lowest of all. See where supply is tightest
- Oil is set for one of its worst weeks in years. So why hasn’t propane followed? Crude and home propane don’t move on the same clock. See what is driving oil
- Natural gas storage just grew again. A mild start to winter is keeping heating fuel demand in check for now. See the storage numbers
- Propane tanks were floating down a flooded river in Georgia. One burned and exploded behind a church. See the safety lessons
- One of the biggest US propane sellers reports on November 12. Its outlook can hint at how dealers see this winter. See what analysts expect
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) | Not listed in our sources |
| Henry Hub natural gas | $2.63/MMBtu (Nov 3) | $2.54/MMBtu (Nov 2) | Not listed in our sources |
| WTI crude | $89.19/bbl (Nov 6, about 4:57 AM ET) | $88.12/bbl (Nov 4 settle) | 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: The Propane Surplus Is Gone, and the Midwest Is Short
- US propane stocks fell 1.6 million barrels in the week ended October 30, the fifth weekly draw in a row.
- Stocks of 104.1 million barrels are 2% below last year, the first time since October 2025.
- They are still 11% above the five-year average, but that extra sits on the Gulf Coast.
- Midwest stocks have slipped below their five-year average as heating demand rises.
RBN Energy said the EIA’s latest report showed a 1.6 million barrel draw in US propane and propylene stocks, well above the 960,000 barrels the industry expected. Stocks have fallen 6.4 million barrels since hitting a record 110.5 million barrels on September 4.
The national total still looks comfortable, at 11% above the five-year average. But RBN said the surplus sits entirely in the Gulf Coast region, while the Midwest has dropped below normal heading into winter.
Home prices in Midwest states are already moving. In EIA’s week of November 2, Wisconsin rose to $2.165 a gallon from $2.007, Minnesota to $2.198 from $2.050, and Iowa to $1.859 from $1.746. Midwest prices are still the lowest in the country, but they are climbing fastest.
More Propane and Energy News
Oil heads for a 12% weekly drop after the midterms
Brent and WTI were both on track for weekly losses of about 12% on Friday, The National reported, after Democrats won control of the House and Senate and traders bet on an easing of the Iran war. WTI traded near $89.19 a barrel on Friday morning, after settling at $88.12 on Wednesday, its lowest since August 31.
Prices bounced on Thursday because tanker attacks in the Gulf and the Strait of Hormuz kept supply fears alive. For propane buyers, crude is only one driver. US propane prices depend more on stocks, exports and winter weather.
Natural gas slips as mild weather and big output weigh
US natural gas stocks rose by 77 billion cubic feet in the week ended October 30 to 3.801 trillion cubic feet, Kalkine Media reported, 1.4% above the five-year average. Forecasts for milder weather pushed prices slightly lower.
The same report said Goldman Sachs cut its 2027 Henry Hub forecast to $2.80 per MMBtu from $3.50, expecting supply to keep growing faster than demand. Most US propane comes from natural gas processing, so strong gas output also means more propane supply over time.
Floodwaters carry propane tanks through a Georgia town
Record flooding on the Toccoa River hit McCaysville, Georgia, on Thursday, FOX 5 Atlanta reported. More than 50 people were rescued, and large propane tanks were seen floating through downtown and lodged under bridges.
A propane tank behind a church exploded four times, and firefighters sprayed water on the church to keep it from catching fire. If you live in a flood-prone area, ask your supplier how your tank is anchored and how to shut it off safely.
Suburban Propane reports results next week
Suburban Propane will report its fiscal fourth quarter before the market opens on November 12, Earnings Whispers wrote. Analysts expect a loss of $0.43 per unit on revenue of $215.6 million, since summer is the slowest season for propane heat.
The piece said warm weather in April cut retail gallons by 1.8% in the prior quarter. Comments on winter demand and costs could hint at what dealers expect this season.
What it means for you
- Midwest buyers: local stocks are below normal and prices rose fastest last week, so consider topping off before a cold snap rather than waiting for a big drop.
- Falling oil does not mean cheaper propane right away. Watch the weekly EIA number, not crude headlines.
- Before you sign a winter contract, check the common hidden fees in propane contracts.
What to watch next
- The next EIA propane stocks and home price data on Thursday, November 12.
- Whether Midwest stocks keep falling as heating demand picks up.
- Iran news and tanker attacks, which keep moving crude day to day.
- Our complete guide to US propane prices explains what drives your bill.
More updates in US Propane Prices.
Sources
