Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 13th 2026

By Ehi Okoduwa ــ Last Update 15 March 2026

Weekly Mont Belvieu Propane–Butane Market Update – March 13th, 2026

Weekly Average LPG Prices:

09/03/2026: Propane $397.9 | Butane $497.7

10/03/2026: Propane $351.7 | Butane $458.1

11/03/2026: Propane $364.5 | Butane $466.3

12/03/2026: Propane $380.7 | Butane $481.6

13/03/2026: Propane $388.3 | Butane $496.9

LPG Prices – Bullish sentiment persists as tensions escalate in the Middle East

LPG prices continue to press toward new highs as missiles and drones crisscross Middle Eastern airspace. The market retains a firm bullish tone amid growing fears over oil and gas availability, following the partial closure of the Strait of Hormuz and the shutdown of several regional oil and gas facilities. On a weekly average basis, Propane posted a modest gain of 2.9%, while Butane recorded a stronger increase of 9.8% compared to the previous week. Butane briefly touched $501/MT at the start of the week before easing on early hopes of a swift end to hostilities; hopes that have since faded as the situation deteriorated.

Propane: averaged $376.6/MT, up from $366.1/MT

Butane: averaged $480.1/MT, up from $437.3/MT

Crude Oil – In dire straits at the Strait of Hormuz

Crude oil prices surged to levels not seen in years, with Brent crude briefly touching $120 per barrel at the height of Iran–US–Israel tensions. Prices initially retreated after statements suggesting a possible de-escalation, but Iran’s move to seize control of the Strait of Hormuz, disrupting oil cargo flows, reignited market fears. Brent subsequently closed above $100 per barrel for the first time in years.

Multiple oil and gas facilities across the Middle East have shut down due to storage constraints (“tank-top”) and security concerns, following drone strikes on installations in Saudi Arabia and Oman. The United States has also warned it could target Iran’s strategic oil infrastructure, including Kharg Island, its primary export hub, if disruptions at the Strait persist.

In an attempt to ease global supply pressure, G7 countries released approximately 400 million barrels from strategic reserves. However, this intervention has had limited impact on price momentum. Additionally, temporary waivers have been granted to allow Russian supplies to reach markets such as India and others.

Weekly Close:

WTI: $95.07 (up from $89.08)

Brent: $100.26 (up from $91.33)

Outlook:

Prices should remain highly sensitive to developments around the Strait of Hormuz. Any concession on hostile positions, particularly reopening the waterway, could trigger a correction. However, structural damage and shutdowns across production facilities may keep oil prices elevated, likely stabilizing around the $80 per barrel range in the medium term.

Nigeria LPG Market – Depot prices largely unchanged

Depot prices across regions remained broadly stable during the week. NAVGAS and Matrix depots recorded sales of around 20 million naira per 20MT. Some Apapa depots experienced low stock or stock-outs, though A.A. Rano and Ardova Plc continued selling at circa 18 million naira per 20MT.

Loadings ex-Dangote remained slow. Despite relatively lower pricing from the refinery, the limited loading pace has muted any meaningful nationwide price impact.

Retail Cooking Gas – February data shows continued upward pressure

Retail LPG prices increased by 9.5% month-on-month between January and February 2026, confirming a nationwide upward trend. See report HERE

Recent feedback from market participants and social media followers indicates further increases across locations, with prices ranging from about 1,100/kg in Lagos to approximately 1,400/kg in Jos, Plateau State.

Please feel free to reach out if you require further clarification or a deeper analysis of these market developments. Our team remains committed to providing timely insights to support effective decision-making in this dynamic market.