Propane Prices Reach Historic Lows as Inventories Rise
Dear Friends of ROUSH CleanTech,
Many of us around the nation are experiencing bitter weather (I guess winter is finally here – only a month late), making it the perfect time to talk about winter propane supplies.
Here’s what we know:
- Propane inventories are significantly up, 27.4 percent higher than the same time last year.
- Propane prices are down — at their lowest in over a decade.
- Instability in the Middle East will continue to make it difficult to budget for diesel and gasoline.
Add in the benefits of the recently passed federal tax extenders package that provides tax incentives for alternative fuels. The tax credits include:
- A $.50 per gallon excise tax credit for 2015.
- A $.36 per gallon excise tax credit for 2016. The reduction for 2016 reflects an updated energy content calculation of excise tax.
- A fueling infrastructure credit for up to 30 percent of installation costs, not to exceed $30,000.
Retroactive to January 1, 2015, the credits are extended through December 31, 2016.
Based on today’s prices and legislation, now is the time to join over 500 school districts nationwide as well as top companies like DIRECTV, UPS, FedEx and many more who are already experiencing the benefits of propane autogas.
Now is the perfect time to discuss why the business case for propane autogas has never been better.
Call us today at 800.59.ROUSH.