Weekly LPG Mont Belvieu And Nigerian LPG Price Review January 9th 2026

By Ehi Okoduwa ــ Last Update 11 January 2026

Weekly Mont Belvieu Propane–Butane Market Update – January 9th, 2026

Weekly Average LPG Prices:

05/01/2026: Propane $307.9 | Butane $331.3

06/01/2026: Propane $313.9 | Butane $326.9

07/01/2026: Propane $309.3 | Butane $322.1

08/01/2026: Propane $309.5 | Butane $326.2

09/01/2026: Propane $316.0 | Butane $333.1

LPG Prices – Bearish Trend Sustained

The bearish momentum in LPG prices persisted for the fourth consecutive week, with both propane and butane touching fresh lows not seen in over two years. On a weekly average basis, propane declined by 1.5%, while butane recorded a much sharper 6.3% drop compared to the previous week.

Propane: averaged $311.3/MT, down from $316.1/MT

Butane: averaged $327.9/MT, down from $349.8/MT

The scale of the butane decline suggests continued structural weakness in LPG pricing.

Crude Oil – Prices Rebound on Geopolitical Developments

(WTI: $59.11 | Brent: $63.22)

Crude oil prices rebounded toward recent upper ranges, supported by geopolitical developments including events in Venezuela, protests in Iran, and ongoing hostilities in the Russia–Ukraine conflict, all of which carry potential supply-disruption risks.

However, Saudi Arabia’s continued price reductions reinforce the narrative of an oversupplied market. In addition, any acceleration of Venezuelan crude production could further weigh on prices, limiting the sustainability of the current rebound.

Weekly Close:

WTI:$59.11 (up from $56.88)

Brent:$63.22 (up from $60.23)

Outlook:

Despite the recent rebound, the broader trend remains bearish. Iranian unrest and Venezuelan developments are unlikely to materially tighten supply. Instead, the possibility of increased Venezuelan output could worsen global oversupply, pushing prices toward new lows in the near term.

Nigeria LPG Market – Domestic Prices Gradually Finding New Lows

Local LPG prices continued to soften in response to declining international benchmarks. Prices fell to around ₦17.5 million per 20MT in Port Harcourt and slightly lower in Apapa.

Barring a full resumption of LPG supply from Dangote Refinery, prices in Apapa could test the ₦17 million per 20MT level in the coming week, as several depots now hold product.

Retail Cooking Gas – Mixed Pricing Nationwide

Retail LPG prices remained uneven across locations, ranging between ₦1,050/kg and ₦1,300/kg nationwide. Further declines are likely in the coming weeks if depot prices continue their downward adjustment.