LPG Price Index 2025: Supply Dynamics and Regional Insights

30-Oct-2025

The global liquified petroleum gas (LPG) market presented a varied pricing environment in Q3 2025, shaped by seasonal consumption patterns, industrial demand moderation, and steady refinery output across key producing regions. According to IMARC Group’s latest publication, “LPG Prices, Trend, Index and Forecast Data Report 2025 Edition,” which provides updated insights for Q3 2025, the quarter saw mixed movements in LPG prices, with most markets recording mild declines amid stable supply and subdued residential heating demand. Pricing dynamics were largely influenced by North America and Asia Pacific, where supply availability, energy affordability measures, and crude oil price trends defined market performance.

Q3 2025 LPG Prices:

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

Current price levels reflect LPG’s vital role across industrial, residential, and commercial sectors. Its versatility and cleaner combustion profile continue to support steady consumption, even as lower seasonal demand and adequate inventories contributed to moderate downward movement in Q3 2025.

Key Regional Price Trends and Market Drivers:

USA

In Q3 2025, LPG prices in the USA reached USD 673/MT. The decline was driven by reduced industrial and residential demand alongside rising inventories that exceeded consumption rates. Stable domestic production and increased import inflows from major suppliers kept the market well-supplied, while falling crude oil prices exerted further downward pressure on LPG values.

China

LPG prices in China averaged USD 664/MT in September 2025. Softer industrial activity, steady refinery output, and consistent import flows contributed to price moderation. Exchange rate stability minimized volatility, while lower logistics and port handling costs supported affordability. Policy efforts to ensure energy price stability and warmer seasonal conditions further curbed heating-related consumption.

India

In Q3 2025, LPG prices in India stood at USD 1043/MT. The decline stemmed from moderated industrial and household consumption, particularly in urban regions. Balanced domestic output and stable import levels maintained sufficient supply. Reduced transportation costs and pricing regulations aimed at controlling inflation supported market steadiness, while mild temperatures limited residential LPG use.

Japan

Japan’s LPG market recorded an average price of USD 583/MT during Q3 2025. Declining industrial and residential demand, coupled with steady imports from Southeast Asian refineries, influenced pricing. Stable port handling and domestic distribution costs minimized price pressure. Variations in the yen and crude oil prices had limited impact due to sufficient supply throughout the quarter.

South Korea

LPG prices in South Korea averaged USD 534/MT in September 2025. Softer industrial and residential consumption, improved logistical efficiency, and stable import volumes led to a marginal decline. Government policies promoting energy price stabilization and falling global crude oil benchmarks contributed to the downward trend.

Q3 vs Q2 2025:

Country	Q3 2025 (USD/MT)	Q2 2025 (USD/MT)	Q3 vs Q2 Trends
USA	673	741	Prices decreased due to weaker domestic demand and higher stock levels
China	664	680	Decline resulted from moderated manufacturing activity and stable supply
Japan	583	607	Reduced demand and steady imports led to lower prices
South Korea	534	561	Decline driven by softer consumption and improved logistics

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LPG Industry Overview:

The global liquified petroleum gas (LPG) market reached a size of USD 144.80 Billion in 2024 and is projected to grow to USD 197.34 Billion by 2033, expanding at a CAGR of 3.33% during 2025–2033. This growth is driven by increasing energy consumption across residential, commercial, and industrial sectors. The adoption of LPG as a cleaner fuel alternative to conventional energy sources continues to rise, supported by its wide availability and efficiency. Expanding infrastructure for storage and distribution, along with policy support for cleaner fuels, is further strengthening market growth worldwide.

Rising industrialization, population growth, and government initiatives promoting energy efficiency continue to boost demand for LPG across both developed and emerging economies. In Asia-Pacific, rapid urbanization and improved accessibility of LPG cylinders have enhanced residential usage. Additionally, increased application in petrochemicals and transportation, along with ongoing refinery capacity expansion in the Middle East and Asia, is expected to create long-term growth opportunities for global LPG suppliers.

Recent Market Trends and Industry Analysis:

LPG remains one of the most versatile energy sources globally due to its efficiency, portability, and cleaner combustion profile. The market continues to be driven by stable residential demand, industrial usage in heating and processing, and growing petrochemical feedstock consumption. It also plays a critical role in extending energy access in regions with limited natural gas infrastructure, contributing to sustainable energy transitions.

Key drivers include expanding distribution networks, technological improvements in LPG bottling and transport, and regulatory policies promoting cleaner energy adoption. Moreover, government subsidies, seasonal consumption patterns, and price-linked policy adjustments influence market direction. As nations pursue carbon reduction goals and diversify fuel portfolios, LPG continues to serve as a strategic bridge fuel supporting global energy security and industrial growth.

Strategic Forecasting and Analysis:

IMARC’s report incorporates forecasting models that project near-term price movements based on evolving trade policies, raw material supply, and technological trends. These tools enable businesses to mitigate risk, enhance sourcing strategies, and support long-term planning.

Key Features of the Report:

Price Charts and Historical Data
FOB and CIF Spot Pricing
Regional Demand-Supply Assessments
Port-Level Price Analysis
Sector-Specific Demand and Supply Insights

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