The U.S. propane-to-WTI crude ratio continues to slide, averaging 35% for March 2026, down five percentage points from February’s 40% and continuing a steady decline from 47% in December and last spring’s 56% peak. With WTI crude prices averaging $91.42/bbl and propane averaging 75.17¢/gal, the ratio is now at its lowest level since November 2023, reflecting propane’s continued weakness relative to crude. This divergence comes amid broader market factors, including ongoing geopolitical influences on crude prices and high propane storage.
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- Analyst Insight
U.S. Monthly Propane to Crude Ratio - Chart Toppers
Propane’s slipping against crude. The U.S. propane-to-crude ratio has dropped to 42% so far in November, down from 46% in October and a 56% spring peak. With winter ahead, weather and exports will decide if propane can regain ground.
- Analyst Insight
Chart Toppers: Propane-to-Crude Ratio Increases
Propane-to-crude climbs in December — spring levels still rolling their eyes.
- Analyst Insight
Propane Continues to Lag Crude in January - Chart Toppers
Propane remains under pressure relative to crude, with the propane-to-WTI ratio averaging 43% in January.
