Weekly Mont Belvieu Propane-Butane Price Review: September 13th, 2024

By Godwin Okoduwa ــ Last Update 15 September 2024

Weekly Mont Belvieu Propane-Butane Price Review: September 13th, 2024

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

09/09/2024: Propane $326.4/ Butane $412.5

10/09/2024: Propane $321.6/ Butane $404.0

11/09/2024: Propane $334.4/ Butane $413.2

12/09/2024: Propane $335.4/ Butane $420.4

13/09/2024: Propane $329.9/ Butane $429.8

LPG prices fall is sustained for the second week:

LPG prices continue the bearish trend for the second week. Butane prices closed at an average weekly price of 416 USD/MT by the end of Friday the 13th of September, 5.2% lower than the previous week's average of 439 USD/MT. Propane prices also fell; closing at an average weekly price of 329.5 USD/MT; 9.9% lower than the previous week's average price of 365.6 USD/MT.

Oil prices, largely bearish:

Crude Oil prices continue to struggle under weak demand. prices suffered during the week but managed to finish at 69.82 and 72.78 for the WTI and Brent crude respectively ; almost at the same level prices closed last week. Despite a slight increase in prices caused by Hurricane Francine which shut down about 700,000 barrel/day in the US and of course the Libyan conflict disruption, prices barely moved, which suggests a strong bearish trend for oil prices. We expect further fall in the new week.

LPG depot prices fall.

Are we about to experience a new trend in LPG depot prices? Prices to 21 million in Apapa from 21.5 Million per 20MT last week. The rising USD/Naira rate is the major cause of the sustained high prices of LPG. Despite the drop in international prices we may not experience further drop in prices this week.

LPG retail prices:

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

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