Middle East conflict, supply fears drive China LPG prices surge in Q1

Amid geopolitical tensions, China's LPG prices rallied sharply in Q1 2026, with northern and southern prices climbing above Yuan 6,000/t and Yuan 7,000/t respectively. While prices are expected to peak in April and then decline, yet the level may above February's.

China's liquefied petroleum gas (LPG) prices rallied sharply in the first quarter of 2026, driven by geopolitical tensions and supply disruptions. China LPG Prices, 2025-2026 (Unit: Yuan/t) Source: OilChem The average LPG price in Q1 2026 stood at Yuan 4,808/t, down 5% year-on-year but up 11% from the previous quarter, OilChem''s data