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LPG Prices

LPG Prices
July 14
10:30 2017

The review for third quarter 2017 noted decrease in prices of all of the LPG products.

The major reasons for the decrease in prices are from the decrease in the international prices for butane in the Saudi Aramco Contract prices, while international freight rates remained constant.

The resulting effect of movements has seen the following changes in LPG prices for the third quarter of 2017.

The changes in prices (Table 3) are a result of decreases in the published prices for the Butane cargoes discharged in April, May and June 2017, averaged at USD423.33/tonne in the current quarter from USD565/tonne in the previous quarter.

This quarter the prices for LPG correlated with the reduction in demand in Europe due to the end of their peak winter season.

This has put downward pressure on LPG prices.

The movement in the exchange rate of the Fijian dollar against the US dollar affecting international freight rates handling charges also attributed to the decrease in the domestic LPG price.

The price changes in Fuel and LPG is a direct impact of the international market influence given that Fiji is a price taker to world market prices for both refined oils and butane.

Fuel is a significant contributor to carbon emissions and climate change and the impact of climate change poses a larger threat to small island developing states like Fiji.

 

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