Weekly Mont Belvieu Propane-Butane Price Review: August 23rd , 2024

Weekly Mont Belvieu Propane-Butane Price Review: August 23rd, 2024

Here's a recap of the LPG price trends for the week , highlighting the average prices for Propane and Butane each day:

19/08/2024: Propane $392.1/ Butane $448.2

20/08/2024: Propane $401.2/ Butane $452.6

21/08/2024: Propane $398.1/ Butane $450.9

22/08/2024: Propane $391.4/ Butane $447.6

23/08/2024: Propane $399.4/ Butane $452.9

LPG prices continue the bullish trend:

LPG prices continue on a bullish run by ending the week with an average price of 450 USD/MT by the end of Friday the 23rd of August, 3.7% higher than the previous week's average of  434 USD/MT. Propane also closed higher; at an average weekly price of 396.4 USD/MT; 0.4% higher than the previous week's average price of 394.9 USD/MT. 

Oil prices unmoved:

Crude Oil prices hardly finished lower last week, with both the WTI and Brent Crude prices closing lower than the previous week; closing at 74.43 against 76.65 USD/barrel and 78.51 against 79.68 USD/barrel respectively. Several developments in the industry could favor any direction of prices; Houthi rebels attacks continue around the Suez Canal, Natural gas reserves in  Europe hit 90% last week, and Russia suspends LNG plant development  - according to information coming from some news channels.

Nigeria LPG depot prices 

LPG depot prices remained at the same levels as expected; selling at 22 Million in Apapa, while in the South-South, prices were around 21.5 million levels. We expect prices to remain at current levels this week.

LPG retail prices:

Retail prices now sell for 1300 in Lagos and upwards depending on the part of the country.

• Lpg
• Butane
• Propane
• Montbelvieu
• Gas
• Natural
• Weeklyprice
• Pricetrend

Godwin Okoduwa

Godwin is an Oil and gas professional with over 20 years of experience.