Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 14th 2025

By Godwin Okoduwa ــ Last Update 17 March 2025

Weekly Mont Belvieu Propane-Butane Price Overview: March 14th, 2025

10/03/2024: Propane $435.8 / Butane $415.8

11/03/2024: Propane $438.6 / Butane $420.2

12/03/2025: Propane $442.9 / Butane $424.8

13/03/2025: Propane $443.2 / Butane $423.8

14/03/2025: Propane $445.1 / Butane $423.0

LPG Price Trends

This week, while propane continued its 8-week decline, Butane prices halted the decline by closing with a 0.3% on the weekly average price against the previous week..

Propane prices averaged $441.1/MT, down 2.2% from the previous week's $450.8/MT, while Butane prices averaged $421.5/MT, up 0.3% from the previous week's $420.3/MT.

Key Insights:

Data suggests a correction in prices has started and a stabilization in LPG prices, with minor fluctuations in both propane and butane markets.

Crude Oil Price Movements

WTI closed at $67.29, down 0.6% from the previous week's $68.50, while Brent settled at $70.58, declining from $72.58 the prior week.

Outlook for Crude Oil Prices.

The Outlook for Crude oil prices doesn't look too good if you look at the current trends, namely, relatively lower China demand and IEA prediction of a lower demand outlook. Also, very importantly, the continued hostilities in the Ukraine- Russia War, US sanctions against Iran, and fightings in the Middle East don't have anything on oil prices, which suggests a relatively low demand for Oil. Either renewables are catching up, or the global economy is crawling.

Nigeria LPG depot prices near 16.3 million per 20MT in Apapa.

LPG depot prices in Apapa declined compared to last week, with some depots selling as low as 16.3 million Naira per 20MT. Prices at Dangote Refinery remained stable, ranging between 16.4 and 16.7 million Naira per 20MT. Meanwhile, at Prudent Energy and Shafa Energy, prices stood at 17.2 Million; both depots are in Delta state. We don't expect much price changes in the coming days as prices are expected to be stable. Also, the Naira has lost ground against the USD in recent days , closing at around 1580 last week.

LPG Retail Prices steady.

Retail LPG prices showed varying trends within Lagos, selling from as low as N12,000 to as much as 16,000/12.5kg, but generally, retail prices were at 14,000/12.5kg levels nationwide.

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