At normal temperatures and pressures, propane is a gas, but it can be compressed into a liquid for transportation. It is a byproduct of natural gas processing and petroleum refining, and it is widely used as a fuel in both residential and commercial applications, as well as low-emission public transportation. It vaporizes as soon as it is released from its pressurized container due to its low boiling point, making it a popular choice for barbecues and portable burners.
There are many factors that affect the price of propane, including:
- Crude oil and natural gas prices
- Proximity of supply
- Production: since propane is a byproduct, it’s production volume can’t be adjusted when demand or price changes
- Weather
- Cyclical demand periods
With this in mind, if you’re going to invest in propane, being updated on its rates will almost certainly be beneficial in future transactions. But, because the market develops so quickly and unexpectedly, it might be difficult to achieve. An API, which is an interface that links two computers and allows them to interact with one another, is highly recommended for this.
You can get real-time data on a variety of products and rates with this technique. Even if you don’t realize, it’s employed in a variety of sectors and websites. You can use an API to request prices for various commodities and receive the information almost instantly. But where do you look for this information? Well, you’ll need to find a reliable software for that.
How To Get An API
As previously stated, you should try to find the ideal application for propane prices that includes an API. You should keep in mind, however, that not all of them function in the same manner. As a result, trying 50 different ones to find the best one for you may be a waste of time and money. We definitely suggest Commodities-API for this, since it is one of the most comprehensive and reliable for propane rates.
To get the information, you have to:
1. Sign in to www.commodities-api.com to obtain your API key.
2. Look for the symbols of Propane and Euro (EUR)
3. Once you have both of them, insert them and make the API request.
4. The software will provide you with a reply in JSON that will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "EUR",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
Once you have that, you can extract the information from the website and use it however you want.
Is This Information Trust-Worthy?
Absolutely! This software works with an API that collects data from banks and the stock market, which makes it totally reliable. Then, it provides this information to you with a precision of 2 decimal points and can adapt it to JSON, PHP and Python. Besides, Commodities-API uses bank-grade 256-bit SSL encryption to protect your connection from any danger.
Rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and many other commodities are supported by this platform. Their API can provide accurate commodities and exchange rate data for nearly any commodity, 170 international currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.