Propane in the Midwest soared to another record premium over prices on the Gulf Coast as supplies of the heating fuel fell to the lowest level for this time of year since at least 1994 amid a cold front. Propane at the rack in Conway, Kansas , ranged from $3.62 to $4.50 a gallon today, according to data compiled by Bloomberg. The spot price yesterday in Conway was $1.72 more than at Mont Belvieu, Texas , the largest premium since at least 2001. Last year, propane at Conway sold at an average discount of 2.8 cents to Mont Belvieu. They are the top two U.S. propane storage hubs. Supplies of propane and propylene in the Midwest fell by 1.34 million barrels to 10.2 million last week, the Energy Information Administration said today. That’s the lowest level for mid-January since the EIA began keeping data in 1993. January may end […]