Price of propane near all-time high

In North Carolina, the cost of propane is approaching an all-time high, reports John Murawski for the News and Observer. In the past week, propane prices in the state ranged from $2.27 a gallon to $3.90 a gallon, according to surveys taken by the N.C. State Energy Office. The statewide average was $2.97 a gallon, according to the U.S. Energy Information Administration, up 13 percent in the past year.

Fifteen percent of North Carolina households use propane for heating,  often in rural areas. Propane is purchased from independent dealers who are to set their own prices. The price of heating oil has tripled in the state over the last decade. The rise in the cost of propane is an early indicator that other heating costs will be going up soon. Other utilitilies purchase fuel in long-term contracts and large volume, so can delay an increase in costs. Their rates are also regulated by the state. (Read more)