Weekly Mont Belvieu Propane-Butane price review June 30th, 2023
Our assessment for last week's daily Mont Belvieu propane and butane in USD/mt (3.3% and 2.4% down respectively on the weekly average):
26th June: 289.2; 286.7
27th June: 280.9; 278.9
28th June: 281.2; 282.0
29th June: 281.0; 283.1
30th June: 282.6; 284.8
Butane and propane prices had a lower weekly average than the previous week. Butane was down by 2.4%, while Propane came down by 3.3% on average, suggesting a continuation of the downward trend for LPG prices.
The US oil inventory decline didn't cause a significant change in trend, but we expect that the price trend will tend upward as we approach the end of the summer or warmer period.
Local LPG prices in Nigeria
Depot prices stopped further prices decline; selling at a low of 9.1 Million per 20MT in Apapa. The highest local lpg price remained unchanged at Prudent Energy, Oghara; selling at 9.75 Million.
On the retail side, data from our followers suggests that Ibadan sold for as low as N7000 per 12.5kg while Port Harcourt still sold at over N9000 per 12.5kg LPG.