Harispray is really messy and leaves a lot of residue. Not very reliable...
Propane is very clean, almost an ideal fuel for spud guns... No residue and one of the more powerful fuels.
I think the best fuel would be a compressed mixture of oxygen and a fuel, but that would be very dangerous... In this case propane and oxygen - 190x mix.

I think that is 190x the volume of the chamber. I want to say it's 190psi of propane/oxygen, but I'm not sure. It's a beast. This guy has some machining skills. It can shoot a steel projectile clear through 10mm of steel.
http://www.spudfiles.com/forums/lard...20-t15524.html
I may just have to try antimatter...