Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 27th 30th 2026

By Godwin Ehijele Okoduwa ــ Last Update 29 March 2026

Weekly Mont Belvieu Propane–Butane Market Update – March 27th, 2026

Weekly Average LPG Prices:

23/03/2026: Propane $399.9 | Butane $513.3

24/03/2026: Propane $423.8 | Butane $514.2

25/03/2026: Propane $420.7 | Butane $507.9

26/03/2026: Propane $436.0 | Butane $530.7

27/03/2026: Propane $445.1 | Butane $532.0

LPG Prices – How high can LPG prices go?

LPG prices extended their bullish run, but this time around, butane prices were a bit more measured in their increase.

On a weekly average basis, Propane posted a gain of 7.5%, expectedly as global scarcity began to be felt, while Butane recorded a measured increase of 2.2% compared to the previous week.

Propane: averaged $425.1/MT, up from $395.3/MT

Butane: averaged $519.6/MT, up from $508.7/MT

Prices are expected to keep climbing as supply pressure continues as a result of the ongoing US-Iran- Israel war. There were more missile attacks on infrastructure, which have kept prices climbing across commodities. But how high can LPG prices go? It could spiral easily if the muted negotiations between the US and Iran fail; a 15-point agenda prepared by the US is on the table for negotiation.

Crude Oil – Uncertainties continue to drive the market.

Crude Oil prices continue to spike as supply shocks ripple through global oil and gas markets.

Countries that depend on Middle East supplies are the most affected, especially for gas-based products. Aside from India, which is experiencing severe gas scarcity, the Philippines and parts of Southeast Asia have declared energy emergencies, driven by limited alternatives and logistics constraints in the Middle East.

Attacks mainly from both Iran and Israel have continued, hitting major energy and utility infrastructures in the Middle East. The call for a lasting peace and stoppage of Iran's capacity to develop nuclear warheads is beginning to be a common requirement among Gulf states; this may form part of the agenda for the planned negotiation with Iran.

From the other side of the globe, a major facility in Russia was hit by Ukrainian drones, affecting deliveries from the Baltic Sea ports, temporarily halting about 40% of Russia's crude oil outflow offshore.

On a positive note for the market, a report from Bloomberg suggests that the Saudis hit full capacity of 7 million barrels per day (bpd) through the East-West pipeline, effectively bypassing the Strait of Hormuz, which has effectively reduced supply strain on the market and has kept prices relatively controlled.

Weekly Close:

WTI: $98.01 (up from $96.82)

Brent: $110.81 (up from $109.93)

Outlook:

Oil prices: Crude oil prices could reach new heights if the situation continues as is ( over 120 USD per barrel ). A positive negotiation outcome could keep prices in the 90 USD region in the intermediate term.

Oil prices are now linked to geopolitical events; the direction of prices is directly proportional to the outcome of the planned peace/ceasefire negotiation between Iran and the US. We also see hostilities from the Houthis, an Iran-backed rebel group operating from Yemen, who attacked Israel for the first time since the war began. The Houthis could exacerbate the tightening of supply through the Red Sea if they can launch attacks freely. The US plans to send thousands of troops to the Middle East to seize the Kharg Island, a major energy hub for Iran; this could give the US a strong position on the negation with Iran.

Nigeria LPG Market – Depot prices settle at 19million Naira per 20 Metric tons ( MT) in Apapa

LPG Depot prices across regions showed an unexpected response to global oil prices. Apapa sold for around 19 million per 20mt, and for most of Lagos. Kwale Hydro Carbon and Prudent Energy sold LPG for 18 million and 20 million, respectively. Dangote refinery, sold at 16.5 million per 20mt (offtaker price), which has contributed to keeping retail prices down.

Retail Cooking Gas prices sing different tunes nationwide.

Cooking gas prices showed an irregular trend across states nationwide. Information from followers of LPGINNIGERIA showed varying prices from the same regions; for example, some retailers in Nasarawa sold for between 1100 and 1300 per kg, while another in Ikorodu mentioned 1200 to 1300 per kg. One would have thought that farther locations from Lagos would sell much higher, but we are not seeing that happen; in fact, a retailer in Ogun state reported selling at 1000 per kg, while those in Lagos sold for between 1100 and 1200 per kg. The highest reported price was 1400 per kg in Port Harcourt.

Please feel free to reach out or drop a comment 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.