Prices have shown a slight rise in the international and domestic markets for LPG in the immediately preceding week.

•  International (Mont Belvieu) prices of LPG maintained a consistent rise all through the week under review.
• Prices of LPG at the depot level rose slightly within the week under review.
• Prices per kg of LPG at the depots in Nigeria are still well over double the prices at the international market. Prices per kg of LPG also increased slightly within the week. However, the rise in prices for LPG at the depot level was higher
• Regional disparities in the retail prices of LPG within the country continue to persist.

Regional disparity in the prices of LPG across the country has been a regular feature of the Nigerian LPG market.  Though the South-south geopolitical zone hosts the great majority of depots in the country due to its proximity to the ocean, prices have been highest in the region.

• The exchange value of the naira to the US. $ was remained stable at N361 to US.$1 throughout the week (Figure D).
• For the first time in about three weeks, the foreign reserve has experienced a drop in the week under review.
• The slight drop witnessed in the size of Nigeria's foreign reserve has implications for the value of the naira in the days and weeks to come and in turn the landing cost of LPG to Nigeria.
• For the gas market, purchasing managers report declining inventory, new orders and employment for the month of May 2020.
• The recently announced 1.8% growth rate for Q1 2020 will boost, at least, temporarily, the confidence of investors and market players of the viability of the Nigerian market.
• Generally optimistic outlook on the ease of the COVID-19 induced lockdown in major commercial cities will improve overall aggregate demand, especially for commercial LPG end-users.
• Prices of crude oil in the international market in the week under review showed a marked upward rise signalling the gradual return to normalcy in the international market for oil & gas (Figure E).

A potential continuous stabilization in the value of the naira might signal stability in domestic LPG prices particularly if oil prices in the international market continue to drop.