Propane prices to drop significantly in Revelstoke on April 1

The average residence will see a drop of $226 per year based on new residential propane rates that take effect on April 1, FortisBC has announced.

A propane flame.

The Revelstoke home propane price roller coaster is heading downhill as of April 1, bringing cheaper rates in Revelstoke.

On Mar. 17, FortisBC announced the commodity rate of the price per gigajoule for propane in Revelstoke will drop by $4.51 from $15.35 to $10.83.

FortisBC said that will translate into a drop of $226 per year for the average residential customer.

The commodity rate is regulated, and pegged to market rates. Weather, supply, economic conditions and global oil market prices have contributed to the price drop, FortisBC said.

The cost of propane fluctuates significantly in Revelstoke, including several significant hikes and drops in the past decade.

This time, it’s good news for home gas customers.

The commodity rate is only part of the overall bill. For more details, see this FortisBC media release.