New Hampshire Propane Prices Set to Rise Amid Tariffs

New Hampshire residents may soon face higher propane prices due to the recent imposition of tariffs on Canadian goods, including propane. The 25% tariff on Canadian exports, which took effect on Tuesday, is expected to increase the cost of importing propane from Canada, New Hampshire's primary supplier. This increased cost will likely be passed on to consumers, leading to higher propane prices in the state.

The New Hampshire Residential Propane Price was at $3.788 per gallon as of February 3, 2025. A 25% tariff on Canadian propane imports could increase this price by approximately $0.95 per gallon, making the new price around $4.74 per gallon. This would be a significant increase for consumers and businesses alike.

The tariffs could also exacerbate the volatility in propane prices that New Hampshire has experienced in recent years. As seen in the historical data provided, propane prices have fluctuated significantly, with peaks reaching as high as $3.84 per gallon in the winter of 2014. The tariff could lead to even greater price volatility and potential price spikes during the winter months.

New Hampshire's reliance on Canadian propane imports is significant, with approximately 70% of its supply coming from Canada. The 10% tariff on Canadian energy products, while lower than the 25% tariff on other Canadian exports, could still result in increased propane prices for New Hampshire residents.

The impact of the tariffs on propane prices could be exacerbated by the fact that propane prices typically remain flat during the summer months. This means that consumers may not see any relief from the price increases until the summer season ends.

Additionally, the tariffs could affect other energy-related products and services, such as gasoline and electricity, which could also see price increases. This could further burden New Hampshire consumers, particularly those with lower incomes who spend a larger portion of their disposable income on energy costs.

In conclusion, the tariffs on Canadian energy products could lead to price increases for New Hampshire consumers, with propane prices potentially rising by 10% to around $4.14 per gallon. This could have a significant impact on consumers, especially those who rely on propane for heating their homes. The tariffs could also affect other energy-related products and services, further burdening consumers.