LPG Price Trend

LPG Price Trend, Index and Forecast

Track the latest insights on LPG price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

LPG Prices Outlook Q3 2025

• USA: USD 673/MT
• China: USD 664/MT
• India: USD 1043/MT
• Japan: USD 583/MT
• South Korea: USD 534/MT

LPG Price Chart

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During the third quarter of 2025, the LPG prices in the USA reached 673 USD/MT in September. The decline was driven primarily by lower domestic demand in the industrial and residential sectors, coupled with rising inventories that outpaced consumption. Supply-side factors, including steady domestic production and increased imports from key suppliers, also contributed to price moderation. Additionally, reduced international crude oil prices exerted downward pressure on LPG pricing.

During the third quarter of 2025, the LPG prices in China reached 664 USD/MT in September. Prices declined as industrial demand softened due to moderated manufacturing activity. Domestic supply remained robust, supported by continuous refinery output and stable import flows. Exchange rate stability helped reduce volatility for imported LPG. Transportation and port handling costs saw slight reductions as shipping congestion eased, while policy measures to ensure energy affordability maintained downward pressure. Seasonal factors, including warmer summer months, contributed to decreased residential heating demand.

During the third quarter of 2025, the LPG prices in India reached 1043 USD/MT in September. The price decline was influenced by moderated industrial and household consumption, particularly in urban regions. Supply-side stability, including consistent imports and domestic refinery output, counterbalanced earlier supply disruptions. Transportation costs decreased slightly due to improved logistics and port handling efficiency. Government pricing policies and regulatory measures aimed at controlling fuel inflation contributed to market stability. Seasonal temperature variations reduced heating requirements, thereby impacting residential LPG demand.

During the third quarter of 2025, the LPG prices in Japan reached 583 USD/MT in September. Declining prices were primarily driven by weaker demand from industrial users and the residential sector. Supply availability remained adequate due to steady imports from Southeast Asian refineries. Port handling and domestic distribution costs remained stable, exerting minimal pressure on pricing. Fluctuations in crude oil prices and the Japanese yen exchange rate slightly influenced import costs but were offset by overall supply sufficiency.

During the third quarter of 2025, the LPG prices in South Korea reached 534 USD/MT in September. Prices declined due to softer industrial and household demand, combined with steady domestic and imported supply. Shipping and port handling costs experienced minor reductions as logistical efficiency improved. Policy interventions aimed at energy price stabilization contributed to downward pricing pressure. Additionally, the moderation of international crude oil prices influenced market trends, reducing input costs for LPG suppliers.

LPG Prices Outlook Q2 2025

• USA: USD 741/MT
• China: USD 680/MT
• South Africa: USD 770/MT
• Japan: USD 607/MT
• South Korea: USD 561/MT

During the second quarter of 2025, the LPG prices in the USA reached 741 USD/MT in June. As per the LPG price chart, the ongoing USA-China trade tensions significantly impacted the market. China, a major importer of US LPG, imposed high tariffs on American imports, leading Chinese buyers to seek alternative supplies from the Middle East. This shift also redirected shipments to Europe and other Asian nations like Japan and India.

During the second quarter of 2025, LPG prices in China reached 680 USD/MT in June. China's liquefied petroleum gas (LPG) market experienced a significant deviation from the traditional negative correlation between supply and price, as both supply and demand declined, yet prices remained elevated. The imposition of a tariff on the US propane by China disrupted established supply chains. Although the tariff was later waived, the initial uncertainty led to panic buying and increased premiums for Middle Eastern LPG supplies.

During the second quarter of 2025, the LPG prices in South Africa reached 770 USD/MT in June. South Africa's prices experienced a nationwide fall, with a notable exception in the Western Cape. This can be attributed to a slight drop in the international prices of propane and butane, the primary components of LPG. Additionally, the South African rand's appreciation against the US dollar during the review period helped mitigate some of the cost pressures, contributing to the overall decrease in LPG prices.

During the second quarter of 2025, the LPG prices in Japan reached 607 USD/MT in June. In May 2025, Japan experienced a notable decline in its LPG import prices. The primary driver behind the reduction was a decrease in global propane prices. Japan propane prices rebounded in May from the previous month after a temporary pause in the US-China trade war.

During the second quarter of 2025, the LPG prices in South Korea reached 561 USD/MT in June. South Korea's market experienced notable dynamics influenced by shifts in feedstock utilization within the petrochemical sector. As of late June 2025, the average LPG price in South Korea witnessed an increase compared to the same period the previous year.

LPG Prices Outlook Q1 2025

• USA: US$ 835/MT
• China: US$ 671/MT
• Saudi Arabia: US$ 623/MT
• Brazil: US$ 750/MT
• South Korea: US$ 575 /MT

During the first quarter of 2025, the LPG prices in the USA reached 835 USD/MT in March. As per the LPG price chart, extreme weather, export demand, and supply constraints caused price swings. Due to harsh winter storms that increased the need for heating and caused inventory draws, prices rose sharply at the start of the quarter. However, domestic demand declined at the end of the quarter, which helped to lower prices.

During the first quarter of 2025, the price of LPG in China reached 671 USD/MT in March. ​LPG prices had fluctuations, caused by an excess of butane and propane, which resulted in reductions. However, the demand for propane increased as winter wore on due to the necessity for heating. Strong demand from the petrochemical industry and lower stockpiles helped the price rebound despite a brief decline brought on by falling crude oil prices.

During the first quarter of 2025, the liquified petroleum gas prices in Saudi Arabia reached 623 USD/MT in March. The market had fluctuations due to changes in supply and seasonal demand. Due to an excess of butane and propane, the market saw a sharp drop in LPG prices early in the quarter. Besides, propane prices increased in the middle of the quarter due to high demand despite declining crude oil prices.

During the first quarter of 2025, the LPG prices in Brazil reached 750 USD/MT in March. There was an increase in the demand for heating fuels, particularly propane, a major component of LPG. This seasonal uptick in consumption led to price volatility. Besides, Brazil faced challenges in its supply chain as export difficulties disrupted the availability of LPG. These supply constraints exacerbated the price volatility in Brazil. ​

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing LPG prices.

Europe LPG Price Trend

Q3 2025:

During Q3 2025, the LPG price index in Europe exhibited moderate downward trends due to weakening industrial and residential demand across major markets. Supply-side factors, including steady import flows from North Africa and the Middle East, contributed to price moderation. Seasonal temperature changes reduced heating requirements, while transportation and port handling costs remained stable. Regulatory compliance and environmental standards continued to impose incremental costs, yet these were insufficient to offset the overall price decline observed in the quarter.

Q2 2025:

As per the LPG price index, the European market continued to witness strong demand for LPG, driven by its applications in residential heating, cooking, and transportation. However, the petrochemical sector, a significant consumer of LPG, experienced a downturn. Besides, he market faced supply challenges due to geopolitical tensions in the Middle East, particularly between Israel and Iran. The conflict raised concerns about the security of regional energy infrastructure and the potential for broader conflict. Moreover, the transition from winter to summer led to reduced demand for LPG, particularly in the residential sector.

Q1 2025:

As per the LPG price index, supply constraints, demand trends, and changes in the price of crude oil, caused prices to swing in the market. Liquified petroleum gas prices spiked at the beginning of the quarter as rising crude oil prices drove up production costs. Besides, the price increase was exacerbated by improved freight costs and logistical setbacks in the region. Besides, LPG prices declined in the middle of the quarter as crude oil prices did, but price stability was preserved by the high demand for heating fuels during the severe winter months.

This analysis can be extended to include detailed LPG price information for a comprehensive list of countries.

North America LPG Price Trend

Q3 2025:

During Q3 2025, the LPG price index in North America declined, reflecting reduced industrial consumption and lower residential demand. Steady domestic production and import availability helped maintain supply stability, while seasonal cooling requirements lowered heating-related consumption. Transportation costs and port handling charges remained largely stable, contributing to modest overall reductions in pricing. Exchange rate stability and energy policy interventions also helped moderate price fluctuations in the regional LPG market.

Q2 2025:

The United States is a leading exporter of LPG, with China being a major importer. However, trade tensions disrupted this flow. China's imposition of a 125% tariff on US LPG imports led to a sharp decline in US exports to China. This sudden reduction in demand caused a surplus of LPG in US markets. The oversupply in the US market exerted downward pressure on domestic LPG prices.

Q1 2025:

Significant swings were experienced by liquified petroleum gas prices due to a number of variables, including weather disruptions, changing demand patterns, and supply shortages. Severe winter storms early in the quarter caused prices to rise as the need for heating fuel spiked and stockpiles were depleted. Besides, significant increases in the price of butane and propane were mostly caused by elevated consumption, rising natural gas and crude oil prices, and robust demand for exports from Asia. Despite the market's continued tightness, liquified petroleum gas (LPG) prices slowed in the middle of the quarter as the cold weather continued, and output was constrained by the lack of natural gas.

Specific LPG historical data within the United States and Canada can also be provided.

Middle East and Africa LPG Price Trend

Q3 2025:

In Q3 2025, LPG prices in the Middle East and Africa were influenced by variations in local demand, particularly in industrial and residential sectors. Supply-side stability, supported by continued production in regional refineries, mitigated extreme price swings. Transportation and logistics efficiency improved, lowering distribution costs marginally. Regional geopolitical developments and currency fluctuations contributed to market uncertainty, while seasonal changes in energy consumption exerted modest downward pressure on LPG prices.

Q2 2025:

As per the LPG price chart, despite some constraints in associated gas production, the Middle East's LPG exports remained strong, driven by higher demand from Asia, particularly China and India. Overall, the quarter witnessed a complex interplay of factors influencing LPG prices in the Middle East. While key producers like Saudi Aramco adjusted their prices downward in response to weaker demand, strategic shifts in global trade, particularly the U.S.-China trade tensions, and regional supply chain dynamics played pivotal roles in shaping the market landscape.

Q1 2025:

The report explores the liquified petroleum gas (LPG) trends and LPG price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market LPG prices.

In addition to region-wise data, information on LPG prices for countries can also be provided.

Asia Pacific LPG Price Trend

Q3 2025:

During Q3 2025, LPG pricing in Asia Pacific reflected softening demand from both industrial and residential users. Import availability and stable domestic production supported supply adequacy. Transportation and port handling efficiency helped moderate costs. Government policies aimed at maintaining energy affordability contributed to price moderation. Seasonal reductions in heating needs and fluctuations in international crude oil prices further influenced pricing trends throughout the quarter.

Q2 2025:

In the second quarter of 2025, the Asia-Pacific LPG market experienced significant volatility due to geopolitical tensions, policy shifts, and supply chain disruptions. The imposition of a 125% tariff on US propane by China in April 2025 disrupted established supply chains, leading to immediate market reactions. Although the tariff was later waived, the initial uncertainty led to panic buying and increased premiums for Middle Eastern LPG supplies. Besides, the Chinese government's focus on strategic stockpiling and the expansion of deep-processing capacities in the petrochemical sector contributed to sustained demand for LPG, even as other sectors reduced consumption. Moreover, Japan experienced a notable fall in its LPG import prices. The primary driver behind the reduction was a decrease in global propane prices.

Q1 2025:

Seasonal demands and supply conditions all had an impact on liquified petroleum gas (LPG) prices in Q1 2025. LPG prices first fell which were brought on by an excess of butane and propane that impacted the markets in the region. However, as winter temperatures increased demand for propane for heating, prices began to rise again by the middle of the quarter. Moreover, strong export demand, especially from the petrochemical industry, kept the market supported even though inventory levels decreased.

This LPG price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America LPG Price Trend

Q3 2025:

Latin America's LPG market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in LPG prices.

Q2 2025:

Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the LPG price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing LPG pricing trends in this region.

Q1 2025:

As per the LPG price index, prices in Latin America experienced notable fluctuations due to a combination of supply constraints, geopolitical factors, and seasonal demand shifts. The region's reliance on imports for LPG exposed it to global market dynamics. Additionally, the region's economic conditions, including inflation and currency fluctuations, influenced consumer purchasing power, affecting demand for LPG. These economic pressures contributed to the volatility in liquified petroleum gas prices during the quarter.

This comprehensive review can be extended to include specific countries within the region.

LPG Price Trend, Market Analysis, and News

IMARC's latest publication, “LPG Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the LPG market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of LPG at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed LPG prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting LPG pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

LPG Industry Analysis

The global LPG market size reached USD 144.80 Billion in 2024. By 2033, IMARC Group expects the market to reach USD 197.34 Billion, at a projected CAGR of 3.33% during 2025-2033. The market is primarily driven by the rising industrial and residential energy demand, increasing adoption of LPG as a cleaner alternative to conventional fuels, expanding infrastructure for distribution, and policy initiatives promoting energy efficiency.

Latest developments in the LPG industry:

• August 2025: The Government of India approved Rs 12,000 crore for targeted LPG subsidy under the Pradhan Mantri Ujjwala Yojana in 2025-26. The government also sanctioned Rs 30,000 crore in compensation for three public sector oil marketing companies, including IOCL, BPCL, and HPCL, to cover under-recoveries on domestic LPG sales.
   
• June 2021: Astomos Energy Corporation signed an agreement with Shell International Eastern Trading Company (Shell) to purchase carbon-neutral LPG cargo for delivery in Japan. The large gas carrier (VLGC)-size LPG cargo is the world's first carbon-neutral LPG. The CO₂e lifecycle emissions associated with this product have been verified through nature-based carbon credits. Shell's nature-based initiatives involve protecting, transforming, or restoring land, facilitating natural processes that generate oxygen and sequester CO2 emissions from the atmosphere.
   
• March 2021: Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply Indonesian national oil company Pertamina with LPG and sulfur in a four-year contract worth around USD 2 billion.

Product Description

LPG is a versatile and widely used fuel that consists primarily of propane or butane, or a mixture of the two. It is a byproduct of natural gas processing and crude oil refining. It is stored under pressure as a liquid, but when released, it vaporizes into a gaseous state. This characteristic makes it convenient for storage, transportation, and utilization in various applications. LPG finds extensive applications across residential, commercial, and industrial sectors. In households, it is commonly used for cooking, heating, and hot water systems. Its clean-burning properties make it a preferred choice for cooking, as it produces fewer emissions compared to traditional fuels like coal or wood. Additionally, LPG heaters offer efficient heating solutions for homes, especially in regions where natural gas infrastructure is limited or unavailable.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of LPG pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting LPG price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The LPG price charts ensure our clients remain at the forefront of the industry.