Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (0.6% and 1.4% down respectively on weekly average):
LPG Butane and Propane prices continue to
range around the mid -500 region. This week, LPG Butane price closed lower than
the previous week's end , closing at 544.6 USD/MT for the week ending 1st of
September 2022, against 551 USD/MT in the previous week. propane prices also
closed at 570.3 USD/MT for the week ending September 1st 2022 , lower than the
previous week's 582.9 USD/MT.
China sustained COVID-19 driven lockdowns continue to affect Oil prices, International Gas prices may have reached their higest peak as consumers seek other energy sources and demand destruction continues.
Local prices downward trend continues, albeit gradual, with some depot selling as low as 12.1 Million per 20MT.
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.