WASHINGTON - The federal government must continue to offer assistance to consumers facing spikes in propane prices due to bitterly cold winter weather and supply shortages, a bipartisan coalition of U.S. senators said on Friday.
If relief from high propane prices isn't going to be exactly immediate, it may be ahead. That according to UND Economics Professor Cullen Goenner. Goenner says the extreme cold winter combined with transportation methods of propane are the main reasons for the price spike.
In Minnesota alone, there are 230,000 homes, businesses and farms that use propane as their main source of heat. For many, the cost of a gallon of propane has nearly doubled in the last week. The state is taking steps Wednesday to help those hurt most by the price spike.
The price of propane has shot up dramatically this week. A twenty five percent increase locally in just 4 days. This at a time when temperatures are at some of their lowest of the year. And that means much higher heating bills for some.
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