Weekly LPG Mont Belvieu And Nigerian LPG Price Review February 6th 2026

By Ehi Okoduwa ــ Last Update 08 February 2026

Weekly Mont Belvieu Propane–Butane Market Update – February 6th, 2026

Weekly Average LPG Prices:

02/02/2026: Propane $322.2 | Butane $362.7

03/02/2026: Propane $326.6 | Butane $356.7

04/02/2026: Propane $330.2 | Butane $365.5

05/02/2026: Propane $322.4 | Butane $361.1

06/02/2026: Propane $322.4 | Butane $360.8

LPG Prices – Mild Retracement After Bullish Run

LPG prices recorded a modest retracement following several weeks of sustained bullish momentum. On a weekly average basis, Propane declined by 4.6%, while Butane eased marginally by 0.6% compared to the previous week. In recent periods, LPG price movements have remained closely aligned with crude oil trends.

Propane: averaged $324.7/MT, down from $340.5/MT

Butane: averaged $361.4/MT, down from $363.6/MT

Crude Oil – Prices Ease on U.S.–Iran Peace Talks

(WTI: $63.85 | Brent: $68.20)

Crude oil prices softened in response to renewed U.S.–Iran nuclear discussions in Oman, as expectations of eased geopolitical tensions and uninterrupted supply weighed on the market. However, seasonal cold spikes continued to provide some demand-side support.

Weekly Close:

WTI: $63.85 (down from $65.76)

Brent: $68.20 (down from $70.84)

Outlook:

Prices may normalize in the near term. A sub-$60 environment remains plausible if Middle East tensions ease further and additional supply enters the market from Venezuela and new U.S. production projects. The International Energy Agency (IEA) also projects sustained renewable energy growth, potentially accounting for up to 50% of the global energy mix by 2030; an outlook that may continue to weigh on long-term oil demand expectations.

Nigeria LPG Market – Mixed Depot Responses to Global Price Movements

Depot pricing reflected varied responses to international trends. Some depots reduced prices to ₦16.1 million per 20MT, while NAVGAS traded at approximately ₦17 million per 20MT, reflecting earlier international price increases.

In the South-South region, prices remained relatively firm at around ₦16.7 million per 20MT, even as global LPG prices experienced upward movements during the same period. A clearer market response may emerge as new cargoes arrive this week.

Retail Cooking Gas – Nationwide Price Decline

Recent reports indicate a noticeable drop in retail LPG prices nationwide, with an average price of ₦1,046 per kg recorded.

For detailed insights, see the full retail price report here:

https://lpginnigeria.com/details/retail-prices-of-cooking-gas-in-nigeria-for-january-2026-averaged-n1308036