Weekly LPG Mont Belvieu And Nigerian LPG Price Review March 6th, 2026

By Ehi Okoduwa ــ Last Update 08 March 2026

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

Weekly Average LPG Prices:

02/03/2026: Propane $353.5 | Butane $414.2

03/03/2026: Propane $369.9 | Butane $429.2

04/03/2026: Propane $353.1 | Butane $419.2

05/03/2026: Propane $365.7 | Butane $441.7

06/03/2026: Propane $388.1 | Butane $482.4

LPG Prices – LPG prices go bullish.

LPG prices continue its bullish trend last week, but this time, the change in price is more significant, as the situation in the Middle East worsens; with the US, Israel, and Iran sending missiles across the Middle East with destruction in its wake. While Propane prices rose by 16.3 percent on the weekly average, Butane prices jumped by 17.3% against the previous week. Butane prices touched 480 USD/MT; first time since February 2025.

Propane: averaged $366.1/MT, up from $314.9/MT

Butane: averaged $437.3/MT, down from $372.6/MT

Crude Oil – Crude prices reach new highs - first in 2 years

Crude oil prices leaped by over 20% for both WTI and Brent crude, the highest since April 2024. The WTI leaped by 26% to 89.08 USD per barrel at the close of Friday, while Brent crude leaped 34% to 91.33 USD per barrel. Major oil and gas infrastructure and transportation routes have been hit, with no crude cargo passing through the Straight of Hormuz, and Oil facility production halted or stepped down significantly in Saudi Arabia, Iraq, and Kuwait. Qatar has also paused LNG production and stated that a refinery restart could happen in weeks, after the end of the hostilities.

The uncertainty of supplies has led to a jump in local prices across cities globally. Nigeria has recorded some queues at Fuel stations, mainly due to uncertainty on the direction of prices- prices have jumped by about 25% within a week, at the pumps nationwide. The UK has also experienced a close to 100% jump in gas prices. China has stopped exporting petroleum products to conserve inventory, while the US has allowed Russia to sell Oil to India temporarily, to reduce the impact of the scarcity of oil volumes globally.

Weekly Close:

WTI: $89.08 (up from $66.64)

Brent: $91.33 (up from $72.49)

Outlook:

Prices could stay in the 80 USD zone even when hostilities deescalate, due to the impact of the war on oil and gas infrastructure.

Nigeria LPG Market – LPG depot prices are the highest since January 2025.

Depot prices hit 20 Million Naira in Apapa, as global oil and gas prices spike as a result of the US- Israel - Iran war in the Middle East. Prices also hit 19 million in the South- South as the market responds to the higher landing cost of product from NLNG. However, Dangote's resumption has created some form of arbitrage, as marketers continue to sell for circa 16 million. Though the price at Dangote is low, plant owners are not guaranteed fast loading or access to third-party trucks, compared to other locations. We may see some adjustment in prices in the coming week, depending on the situation in the Middle East. Prices in Dangote could adjust upwards as demand increases, or prices in Apapa could reduce, depending on more offshore supplies and competition from Dangote ( assuming there are enough volumes ).

Retail Cooking Gas – retail prices respond to depot price hikes.

Recent feedback from followers on social media and the recent webinar suggest an increase in retail prices nationwide; prices ranged from 1050 Naira per KG in Mowe, Lagos, to 1400 Naira per KG in Jos, Plateau.