The Core Fuels Market Outlook For March, 2022

Fickle propane prices continue into the spring, as we haven’t experienced any relief – which would be typical for the time of year. Inventory hasn’t quite rebounded and remains at a five-year low. However, It looks like there’s enough propane in the system to get us well into spring. Degree days continued to resurge in March and we can expect cooler temperatures into the early parts of April. Sadly, furnaces will have to stay on for the time being. Reduced demand in the coming weeks may help quell high prices towards the mean. Since the last update, fuel prices have endured the sharpest increase in decades. Sanctions and uncertainty around the war in Europe have drastically impacted the global market. Crude prices peaked in the second week of March. The increases retreated for a week, but then continued to climb into last week. The markets have cooled over the past weekend and we’ve seen a price decline heading into April. Where the prices go from here is anybody’s guess.