Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 28th 2025

By Godwin Okoduwa ــ Last Update 31 March 2025

Weekly Mont Belvieu Propane-Butane Price Overview: March 28th, 2025

24/03/2024: Propane $470.2 / Butane $427.0

25/03/2024: Propane $474.8 / Butane $431.9

26/03/2025: Propane $478.5 / Butane $434.2

27/03/2025: Propane $467.9 / Butane $432.6

28/03/2025: Propane $465.8 / Butane $429.2

LPG Price Trends

This week, while propane prices continued the upward movement with an average weekly price of $471.4/MT, a 4.9% increase over the previous week average, while Butane prices continued its upward price movement, finishing at an average price of $431.0/MT, indicating a 2% increase, a more significant increase than the previous week.

Key LPG price insights:

Propane continued its upward trend, closing the week at $474.9/MT, its highest level in nearly a month. This rise reflects stronger seasonal demand coupled with supply constraints.

Butane also trended upward, albeit at a slower rate than propane. The price increase suggests improving demand, likely driven by petrochemical sector activity.

Key Market Drivers include Global Crude Oil Prices; rising crude oil prices have supported LPG price increases, as Mont Belvieu propane often follows crude trends. Also, Geopolitical developments, which include continued tensions in Eastern Europe and the Middle East, may have played a role in influencing pricing sentiment. Seasonal Demand shifts as heating demand wanes in North America; shifts in export flows could impact price movements in the coming weeks.

With propane experiencing a stronger rebound than butane, we anticipate **continued price stability** in the short term, driven by crude oil fluctuations and global LPG trade patterns.

Crude Oil Prices up for 3 straight weeks:

WTI closed at $69.47, up 1.7% from the previous week's $68.28, while Brent settled at $73.62 up 2.3% from $71.93 the prior week.

Market Factors responsible include Trump's sanctions on Venezuela and Iranian oil. Crude oil prices are on a 3-week bull-run and are expected to continue as optimism of China's economy revival rises, which means an oil demand boost. US airstrikes on the Yemeni Houthis group have also contributed to the surge in oil prices. Also key is the OPEC+ new production plan to restrict oil production for some countries.

Nigeria LPG depot prices rise for the second consecutive week.

LPG depot prices in Lagos moved upward for the second consecutive week, closing at 17 million per 20MT at most depots in Lagos. LPG prices at Dangote refinery remained unmoved at 16.3 Million per 20MT. Prices were lower in the South- South were competition is fierce to keep customers from going West. We expect a gradual return of prices to import levels soon, assuming Dangote volumes for the market remain low.

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.

Visit the LPG forum https://lpginnigeria.com/forum/topic/details/lpg-prices-in-nigeria/54 to share local Retail prices and participate in the discussion.