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Ferrell North America performs propane trading and distribution for more than 600 Ferrellgas locations. Founded in Houston, Texas in 1977, Ferrell North America also purchases, trades, sells, stores, and transports natural gas liquids and oil refinery feedstocks in conjunction with major oil companies, petrochemical manufacturers, gas processors, and other retail propane companies.
On December 1, 2002, Ferrellgas purchased the propane operations of ProAm, Inc., then the nation's 17th largest propane retailer, for $25.6 million and a $10 million deferred seller note. The regional company had 70,000 customers and 57 retail outlets in seven states, the largest concentration of these being in Georgia and Texas.
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The current national gas price average is $3.62 per gallon. The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon.
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
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