Weekly Mont Belvieu Propane-Butane Price Review: September 7th, 2024

Weekly Mont Belvieu Propane-Butane Price Review: September 7th, 2024

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

03/09/2024: Propane $379.5/ Butane $446.8

04/09/2024: Propane $375.3/ Butane $450.0

05/09/2024: Propane $363.1/ Butane $438.3

06/09/2024: Propane $344.3/ Butane $421.0

LPG prices experience a correction after a three-week uptrend:

LPG prices fall after 3 weeks on the rise. Butane prices closed at an average weekly price of 439 USD/MT by the end of Friday the 6th of September, 4.5% lower than the previous week's average of  459.7 USD/MT. Propane prices also fell; closing at an average weekly price of 365.6 USD/MT; 7.9% lower than the previous week's average price of 396.4 USD/MT. 

Oil prices continue to fall:

Crude Oil prices continue the fall despite the announcement by  OPEC+, who postponed the scheduled unwinding of the 2.2 million barrel / day production cuts. Major reason for the fall is connected economic data from China and the US. The WTI and Brent crude closed at 69.73 against 74.27 USD/barrel and 73.22 against 78.88 respectively. 

LPG depot prices hardly moved.

LPG depot prices dropped a bit to 21.5 Million per 20MT from 21.7 million last week,  in Apapa. Depots like Techno,Shafa Energy and Matrix sold for 22 Million and more. By the end of the week , there was some scarcity in the South-South depots.

LPG retail prices:

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

• Lpg
• Butane
• Propane
• Montbelvieu
• Weeklytrend

Godwin Okoduwa

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