Weekly LPG Mont Belvieu And Nigerian LPG Price Review April 4th 2025

By Godwin Okoduwa ــ Last Update 05 April 2025

Weekly Mont Belvieu Propane-Butane Price Overview: April 4th, 2025

31/03/2025: Propane $469.6 / Butane $431.8

01/04/2025: Propane $480.3 / Butane $431.1

02/04/2025: Propane $481.4 / Butane $430.9

03/04/2025: Propane $456.9 / Butane $413.4

04/04/2025: Propane $407.0 / Butane $373.2

LPG Price Trends

This week, propane prices continued the upward movement but reversed suddenly midway after the US import tariff announcements and then finished at an average weekly price of $459.0/MT, a 2.6% decrease over the previous week's average. Butane prices also experienced a trend reversal, finishing at an average weekly price of $416.1/MT, indicating a 3.5% increase against the previous week. Butane prices touched 373.2, the lowest since June 2024.

Key LPG price insights:

Major trend reversals for both Butane and Propane are due to the confusion over the US import tariff announcement by Trump. Many countries have been hit with reciprocal import tariffs which are likely to affect demand when buying - power of consumers is reduced as a result of higher cost of goods - Weak economies do not encourage demand. So LPG trend may be bearish in the immediate term.

Crude Oil Prices experience the steepest drop since 2021:

WTI closed at $61.99, down 11% from the previous week's $69.47, while Brent settled at $65.58, also down 11% from $73.62 the prior week.

Several news and events may have caused this steep drop in crude oil prices. The week was accompanied by OPEC+'S unwinding of crude oil production cuts, which meant more oil in the market, US president - import tariff announcement, and a further retaliatory import tariff by China. These events combined led to the 11% drop in prices. Brent prices touched below $65 during the week, the lowest since 2021.

Price action seems to be knee-jerk reactions; we expect prices to make a rebound in the coming week, maybe not to the pre-US import tariff levels.

Nigeria LPG depot prices remain stable.

LPG depot prices in Lagos remained stable, selling for circa 17 million per 20MT at most depots in Lagos. LPG prices at Dangote refinery remained unmoved at 16.3 million per 20MT. Prices were highest in Port Harcourt, where LPG sold for as high as 17.2 Million Naira. There were no direct effects of international prices on the local market.

LPG Retail Prices steady.

Retail LPG prices showed varying trends within Lagos, selling from as low as N12,000 to as much as 16,000/12.5kg, but generally, retail prices were at 14,000/12.5kg levels nationwide.

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