Weekly Mont Belvieu Propane – Butane prices – August 6th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (1.3% and 0.7% down respectively on weekly average):
2nd August: 568.2; 586.4
3rd August: 564.3; 582.5
4th August: 559.1; 575.6
5th August: 562.7; 577.0
6th August: 564.6; 579.0
LPG Butane prices rebounded from the highest price in more than 2 years to sub- 580 USD/MT. The coming week may experience more decrease in prices if crude oil price trend is anything to consider – crude oil prices went below the 70USD ber barrel mark last week.
On the local side of the market, depot prices hit the highest ever at was N7.6 Million per 20 MT – just last Friday – apparently reacting from the previous week’s international prices.
Retail prices are now trending around N5500 to N6500 per 12.5kg across the country and we expect this trend to continue in the coming week.