Propane futures are traded on the New York Mercantile Exchange under ticker symbol PN in U.S. dollars and cents per gallon.[1]

The chart at left shows front-month Propane futures prices on the New York Mercantile Exchange (NYMEX) in dollars per gallon.

Delivery Dates

Propane futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November and December (all months).[1]

The following is a table with Propane futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2011PNF9PN/F9-NM
February, 2011PNG9PN/G9-NM
March, 2011PNH9PN/H10-NM
April, 2011PNJ9PN/J9-NM
May, 2011PNK9PN/K9-NM
June, 2011PNM9PN/M9-NM
July, 2011PNN9PN/N9-NM
August, 2011PNQ9PN/Q9-NM
September, 2011PNU9PN/U9-NM
October, 2011PNV9PN/V9-NM
November, 2011PNX9PN/X9-NM
December, 2011PNZ9PN/Z9-NM

Contract Specifications

Contract Size

One Propane futures contract on the New York Mercantile Exchange is 42,000 U.S. gallons (1,000 barrels).[1]

Tick Value

$0.0001 (0.01¢) per gallon ($4.20 per contract).[1]

Daily Price Limit

$0.25 per gallon ($10,500 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $0.25 per gallon in either direction. If another halt were triggered, the market would continue to be expanded by $0.25 per gallon in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.[1]

Trading Hours

  • On the CME Globex electronic platform: 6:00 PM until 5:15 PM Sunday through Friday. There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date), New York Time.[1]
  • Open Outcry (pit session): 9:20 AM until 1:10 PM, New York Time.[1]

Last Trading Day

Trading terminates at the close of business on the last business day of the month preceding the delivery month.[1]

Deliverable Grades

Conforms to industry standards for fungible liquefied propane gas as determined by the Gas Processors Association (GPA-HD-5).[1]


  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 The New York Mercantile Exchange's contract specification for Propane futures
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