INDIANAPOLIS (AP) — Indiana’s propane dealers are hoping warmer temperatures, improving supplies and lower prices mean the worst might be over for Hoosiers hit by a lingering shortage of the fuel.
An estimated 500,000 Indiana residents who rely on propane to heat their mostly rural homes have faced weeks of propane shortages blamed on a combination of subzero cold and market forces.
But Indiana Propane Gas Association director Scot Imus says moderating temperatures and signs the propane supply is stabilizing suggests the worst of the shortages could be over.
The U.S. Energy Information Association says the average price of propane in Indiana soared from about $2.80 per gallon in early January to about $4.25 by early February.
But its report released Wednesday showed Indiana’s average price had dropped to $4.04 per gallon.