Price for Petroleum Gases and Other Gaseous Hydrocarbons in the United States - 2023
Contents:
- Price for Petroleum Gases and Other Gaseous Hydrocarbons in the United States (FOB) - 2022
- Price for Petroleum Gases and Other Gaseous Hydrocarbons in the United States (CIF) - 2022
- Exports of Petroleum Gases and Other Gaseous Hydrocarbons in the United States
- Imports of Petroleum Gases and Other Gaseous Hydrocarbons in the United States
Price for Petroleum Gases and Other Gaseous Hydrocarbons in the United States (FOB) - 2022
The average export price for petroleum gases and other gaseous hydrocarbonses stood at $670 per ton in 2022, with an increase of 44% against the previous year. In general, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for petroleum gases and other gaseous hydrocarbonses increased by +81.3% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($890 per ton), while the average price for exports to Italy ($322 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Petroleum Gases and Other Gaseous Hydrocarbons in the United States (CIF) - 2022
The average import price for petroleum gases and other gaseous hydrocarbonses stood at $1,734 per ton in 2022, picking up by 28% against the previous year. Overall, the import price saw a resilient increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 187%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($2,725 per ton), while the price for South Korea ($172 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+17.5%), while the prices for the other major suppliers experienced a decline.
Exports of Petroleum Gases and Other Gaseous Hydrocarbons in the United States
After three years of growth, overseas shipments of petroleum gases and other gaseous hydrocarbonses decreased by -1.7% to 144M tons in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. As a result, the exports attained the peak of 146M tons, and then declined modestly in the following year.
In value terms, exports of petroleum gases and other gaseous hydrocarbonses surged to $96.3B in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 104%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Petroleum Gases and Other Gaseous Hydrocarbons in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 6.1 | 6.0 | 14.0 | 15.1 | 35.3% |
| Japan | 5.9 | 5.4 | 9.0 | 9.5 | 17.2% |
| France | 0.8 | 0.7 | 1.6 | 7.9 | 114.5% |
| South Korea | 2.5 | 2.9 | 6.0 | 6.3 | 36.1% |
| United Kingdom | 0.7 | 1.2 | 1.7 | 6.0 | 104.7% |
| Netherlands | 1.1 | 1.0 | 1.8 | 5.9 | 75.0% |
| Spain | 1.3 | 1.2 | 2.0 | 5.6 | 62.7% |
| Canada | 2.4 | 1.6 | 2.5 | 4.5 | 23.3% |
| China | 0.2 | 2.5 | 6.5 | 4.3 | 178.1% |
| Turkey | 0.4 | 1.0 | 2.2 | 2.9 | 93.5% |
| Poland | 0.2 | 0.2 | 0.4 | 2.6 | 135.1% |
| Italy | 0.3 | 0.4 | 0.3 | 1.4 | 67.1% |
| Argentina | 0.2 | N/A | 0.6 | 1.1 | 76.5% |
| Others | 8.1 | 9.2 | 19.4 | 23.4 | 42.4% |
| Total | 30.5 | 33.3 | 68.0 | 96.3 | 46.7% |
Top Export Markets for Petroleum Gases and Other Gaseous Hydrocarbons from the United States in 2022:
- Mexico (25.3M tons)
- United Kingdom (14.1M tons)
- Japan (12.2M tons)
- France (10.2M tons)
- Canada (8.0M tons)
- Netherlands (7.4M tons)
- Spain (7.2M tons)
- South Korea (7.1M tons)
- Poland (6.3M tons)
- China (5.1M tons)
- Italy (4.2M tons)
- Turkey (3.5M tons)
- Argentina (3.1M tons)
Imports of Petroleum Gases and Other Gaseous Hydrocarbons in the United States
In 2022, imports of petroleum gases and other gaseous hydrocarbonses into the United States skyrocketed to 12M tons, growing by 17% on the previous year's figure. Overall, imports, however, continue to indicate a significant decline. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year.
In value terms, imports of petroleum gases and other gaseous hydrocarbonses surged to $20.2B in 2022. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Petroleum Gases and Other Gaseous Hydrocarbons in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 8.8 | 5.8 | 12.2 | 18.6 | 28.3% |
| Trinidad and Tobago | 0.9 | 0.5 | 0.9 | 1.0 | 3.6% |
| Equatorial Guinea | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Nigeria | N/A | N/A | 0.1 | 0.1 | 0.0% |
| South Korea | N/A | N/A | N/A | N/A | 0% |
| Others | 0.3 | 0.1 | 0.1 | 0.2 | -12.6% |
| Total | 10.1 | 6.7 | 13.4 | 20.2 | 26.0% |
Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to the United States in 2022:
- Canada (6.8M tons)
- Trinidad and Tobago (2.7M tons)
- Equatorial Guinea (1.1M tons)
- Nigeria (0.5M tons)
- South Korea (0.2M tons)
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