Falling propane prices may signal an end to the propane shortage that began in fall 2013 and left suppliers scrambling to provide the fuel to their customers.
Lakes Gas Forest Lake, Wisconsin General Manager Steve Sargeant was recently interviewed for a news segment about the shortage for WLUK TV 11.
During the interview he said prices, which had been $4.49 a gallon in late January, seem to be going down. He said they’ve dropped about 20 cents a week during the past month, and are now about $2.50 a gallon in the area near his store.
During the shortage, Lakes Gas halted sales to new customers and focused on serving existing customers. To prepare for situations like this in the future, Lakes Gas is increasing propane storage capacity underground and in the field.
“I guess you come out of it saying, ‘What can we do to minimize anything like that in the future,” Sargeant said.
Lakes Gas recommends that customers fill their tanks this summer to ensure they are prepared for the winter should another shortage occur.
“The customer with a full tank is in a far better position than the customer who is who is waiting until the winter to take a delivery,” he said.