Last Chance to Contract Propane for Winter
September 22, 2017
Written By Adam Buckallew
The deadline to lock in propane pricing for the winter through contracting is quickly approaching. Are you ready for winter?
MFA Oil customers have until Sept. 30 to contract propane for the winter. Contracting provides you with an opportunity to secure a set price on your propane for a specified number of gallons. Locking in your propane now provides protection against future price spikes, which occur most often during the winter months. Contracting doesn’t guarantee today’s price will be lower, but it does make sense based on historical trends.
Why should you consider contracting this year? As we head into the heating season, propane stocks in the United States stand at just over 80 million barrels as of Sept. 15, which is 20.9 million barrels (20 percent) lower than the same time last year. The decrease in propane inventories and a growing propane export market has the potential to create volatile propane pricing this winter.
“It’s good to be prepared and to know you have a reliable supply of propane secured for the winter,” says James Greer, vice president of supply and government affairs for MFA Oil. “If a cold snap hits, like the polar vortex in the winter of 2013-2014, we go above and beyond to honor our contracts. Not all of our competitors can say the same.”
Contracting can also help you take the guesswork out of your heating needs. Locking in your price now makes it easier to budget how much you will pay for your propane this winter. To learn more or to sign up for a propane contact, call your local MFA Oil plant manager. Click here to find your nearest MFA Oil propane location.