Weekly Mont Belvieu Propane – Butane prices – October 22nd, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/MT
18th October: 775.0; 758.8
19th October: 772.9; 757.9
20th October: 761.5; 750.0
21st October: 745.7; 740.1
22nd October: 735.6; 731.9
LPG Butane (Mont Belvieu) prices closed lower than the previous week – closing at 731.9USD/MT from 751 USD/MT in the previous week. Propane also closed lower from 770.8 in the previous week to 735.6 USD/MT on the 22nd of October , 2021. This is a welcomed respite , just as factors that pushes prices higher persists. The coming week will re-confirm the situation with market price trend.
On the local side, depots prices continue to rise as LPG prices rose to 10.6 Million Naira per 20MT at Prudent Depot in Oghara, at the end of the week . Most Depot in the South – South are still out of stock . NLNG cargo is expected in Port Harcourt this week; which could reduce the pressure on prices.
Retail prices for cooking gas remain relatively high at N7,500 to N8,000 range per 12.5kg in locations nationwide.