Weekly Mont Belvieu Propane - Butane Price Review - September 2nd 2022

By LPG in Nigeria ــ Last Update 02 September 2022

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Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (0.6% and 1.4% down respectively on weekly average):

29th August: 591.2; 559.7
30th August: 583.2; 551.5
31st August: 581.6; 550.4
1st September: 566.6; 539.9
2nd September: 570.3; 544.6

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.