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President and CEO of Suburban Propane Mike Stivala joins Cheddar News’ Closing Bell to discuss U.S. Propane Market’s Dire Winter Outlook
“If you think back to the growth spurt that we’ve seen in the economy globally over the last several months as we’ve been trying to recover coming out of the pandemic, that growth has spurred a significant demand globally for propane.” CEO, Mike Stivala
The U.S. propane market is headed for ‘armageddon’ this winter, according to the research firm, IHS Markit Ltd. Residential propane prices nationwide are currently at their highest level for the month of October since 2011. It comes amid soaring demand and as the energy source is in short supply. This all could lead to some regions experiencing shortages before winter ends. President and CEO of Suburban Propane Michael Stivala joins Cheddar News’ Closing Bell to discuss.
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