Weekly Mont Belvieu Propane – Butane prices – September 17th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (7.7% and 2.8% up respectively on weekly average):
13th September: 645.1; 643.3
14th September: 652.9; 648.4
15th September: 679.9; 664.8
16th September: 690.3; 673.6
17th September: 700.7; 678.1
LPG Butane (Mont Belvieu) prices closed above the previous week’s close; closing at 678.1USD/MT from 645MT.
International correspondence shared news of the low Gas inventories and high Natural gas prices during the week. Propane prices hit 700USD/MT and we expect Butane prices to do likewise soon.
On the local side, depots prices continued above 9 Million Naira per 20MT during the week. Apart from high international prices, high FX rates, VAT and import duty implementation at the ports have affected local pricing in recent weeks.
Retail prices for cooking gas continue to increase as LPG sell for between N6,000 to N8,000 per 12.5kg in locations nationwide.