Weekly Mont Belvieu Propane-Butane Market Update – February 20th, 2026

By Ehi Okoduwa ــ Last Update 23 February 2026

Weekly Average LPG Prices:

17/02/2026: Propane $310.5 | Butane $351.8

18/02/2026: Propane $315.5 | Butane $354.5

19/02/2026: Propane $315.2 | Butane $354.8

20/02/2026: Propane $317.0 | Butane $359.0

***Note that there is no data against Monday the 16th, as it was the US bank holiday

LPG Prices – Bearish momentum building.

LPG prices recorded drops in both Propane and Butane prices, in what seems to be the beginning of a retracement to previous levels experienced four (4) weeks ago. Propane prices dropped by 1 percent on the weekly average , while Butane prices fell by 2.3% against the previous week.

Propane: averaged $314.6/MT, down from $317.7/MT

Butane: averaged $355.0/MT, down from $363.3/MT

Crude Oil – Crude prices rebound (WTI: $65.79 | Brent: $71.08)

Crude oil prices rebounded, amidst tensions in the middle- east and hostilities from the Russian - Ukraine war. WTI bounced off 62.88 USD per barrel in the previous week , closing at 65.79, while Brent Crude bounced off 67.60 , closing at 71.08 USD per barrel. Iran shut the Strait of Hormuz temporarily after announcing some missile testing - it seemed to be a show of force as negotiations with the US continue. A major Oil refinery was hit by Drones from Ukraine, which disrupted supply.

Weekly Crude Oil Close:

WTI: $65.79 (up from $62.88)

Brent: $71.08 (up from $67.60)

Outlook:

The upward momentum in prices seems to be driven only by geopolitical events, which may not be sustainable. A sub-$60 environment remains plausible in the near term.

Nigeria LPG Market – Dangote Refinery resumption influences LPG prices.

Depot prices dropped to as low as 15.6 million per 20MT in Apapa - an occurrence influenced by the resumption of Dangote refinery. More volumes in the market mean more pressure on demand, leading to a further drop in prices. Shafa Energy in Warri, recorded the highest, selling at 16.6 million per 20MT. Another factor that affects LPG pricing is the Foreign Exchange ; the Naira has consistently gained against the US Dollar leading to lower landing cost for offshore LPG supply.

Retail Cooking Gas – Interesting price disparity across states.

Feedback from our followers suggests interesting retail LPG price disparities across states. Lowest price of N1,000 per kg was recorded in Ogun state, while N1,300 per kg was recorded as highest, in Kwara and the FCT Abuja.