Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (0.1% and 0.5% up respectively on weekly average):
Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (3.6% and 2.2% up respectively on weekly average):
This report is based on a 2-week assessment
period. Within the two weeks, Butane prices hovered along the lowest points
touching areas under 540 USD, and closed lower than the close on the 12th of
August, closing at 551 USD/MT against 552.2 USD/MT two weeks ago.
International Gas prices are still highest in Europe - the direction of price could move downwards, as industries and governments embrace Energy sources hitherto regarded as 'dirty', the likes of Coal for instance and the renewed move towards Nuclear energy.
Local prices began a gradual dip 2 weeks ago and this has been sustained despite the renewed upward swing in the USD/Naira exchange rate.
We expect prices to remain in this range or lower if international prices of Butane continue to range as it has done in the past weeks.
The retail prices from the LPG plants, also remained unchanged ranging from about N9, 000 to N10,000.00 per 12.5kg cylinder across the country.