Weekly Mont Belvieu Propane – Butane prices – September 24th, 2021
Our assessment for last week daily Mont Belvieu propane and butane in USD/mt (3.2% and 1.7% up respectively on weekly average):
20th September: 692.3; 669.3
21st September: 692.0; 665.6
22nd September: 693.4; 672.4
23rd September: 701.1; 676.7
24th September: 697.8; 680.6
LPG Butane (Mont Belvieu) prices closed just slightly above the previous week’s close; closing at 680USD/MT from 678.1MT.
International correspondence about low Oil & Gas inventories continue to suggest that prices would continue to tower higher as we approach winter. While propane prices already crossed 700 USD/MT during the week, Butane prices are yet to touch 700.
On the local side, depots prices continued LPG prices hit 9.5 Million Naira per 20MT . Increase in prices may be connected to what appears to be scarcity at certain parts of the country.
Retail prices for cooking gas continue to increase as LPG sell for between N6,000 to N8,000 per 12.5kg in locations nationwide.