The liquefied petroleum gas (LPG) tank car supply tightened in the latest week, and sublease rates in shorter-term contracts were flat to slightly higher as winter heating needs took center stage.
"It's that time of the year," said one rail commercial manager with a midstream company. “We have all of our cars out,” he noted.
Winter propane demand has surged as weather switched from being mild to blizzard-like conditions and temperatures plunged in some areas of the country - particularly the Midwest.
A traffic manager at a midstream company said tank car supply is likely to continue to tighten into February and last until the weather begins to change.
Weather forecasts indica...