Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 21st 2025

By Godwin Okoduwa ــ Last Update 24 March 2025

Weekly Mont Belvieu Propane-Butane Price Overview: March 21st, 2025

17/03/2024: Propane $445.1 / Butane $425.3

18/03/2024: Propane $443.2 / Butane $421.3

19/03/2025: Propane $444.2 / Butane $417.6

20/03/2025: Propane $452.1 / Butane $423.8

21/03/2025: Propane $463.4 / Butane $424.7

LPG Price Trend

This week, propane halted its 8-week decline, closing with a weekly average price of $449.6/MT indicating a 1.9% rise. In contrast, Butane prices continued its upward price movement, finishing at an average price of $422.5/MT, indicating a 0.2% increase against the previous week.

Key Insights:

This data suggests a modest strengthening in LPG prices, with propane experiencing a more pronounced uptick compared to butane prices.

Crude Oil Price Movements

Throughout the week, crude oil prices experienced fluctuations influenced by geopolitical events and market dynamics

WTI closed at $68.28.29 up 1.6% from the previous week's $67.29, while Brent settled at $71.93 up 1.6% from $70.82 the prior week.

Market Factors responsible for the drop in prices include, US airstrikes against Yemen's Houthis contributed to a surge in oil prices, reaching a two-week high, Optimism over China's economic plans to boost consumption also supported oil price increases and Expectations of tighter supplies due to sanctions on Iran and new production plans from OPEC+ influenced market sentiment.

Nigeria LPG depot prices rebound.

LPG depot prices in Apapa rebounded, closing at 16.5 million per 20MT before the end of the week. Trends seem to suggest declining volumes at the Dangote refinery as they are yet to drop price, despite the response from the competition. We haven't seen any changes in the offshore supply trend, although a cargo was received in Port Harcourt; prices were around 17.3 Million per 20MT. We will continue to monitor market trends.

LPG Retail Prices remain 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 at 14,000/12.5kg levels nationwide.

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