Price for Petroleum Gases and Other Gaseous Hydrocarbons in India - 2023

Price for Petroleum Gases and Other Gaseous Hydrocarbons in India (CIF) - 2022

The average import price for petroleum gases and other gaseous hydrocarbonses stood at $790 per ton in 2022, increasing by 39% against the previous year. In general, the import price continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 51%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Oman ($1,059 per ton), while the price for Australia ($343 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Petroleum Gases and Other Gaseous Hydrocarbons in India (FOB) - 2022

In 2022, the average export price for petroleum gases and other gaseous hydrocarbonses amounted to $925 per ton, rising by 21% against the previous year. Over the period under review, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2021 when the average export price increased by 45% against the previous year. The export price peaked at $1,289 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Nepal.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +73.8% per year.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons in India

In 2022, after three years of growth, there was decline in overseas purchases of petroleum gases and other gaseous hydrocarbonses, when their volume decreased by -3% to 41M tons. The total import volume increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 6.2%.

In value terms, imports of petroleum gases and other gaseous hydrocarbonses surged to $32.4B in 2022. Overall, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 58% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Import of Petroleum Gases and Other Gaseous Hydrocarbons in India (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	8.2	6.9	11.0	12.6	15.4%
United Arab Emirates	N/A	N/A	N/A	6.6	0%
Saudi Arabia	2.4	2.1	3.4	3.0	7.7%
Kuwait	1.0	1.1	1.8	2.2	30.1%
United States	1.3	1.4	2.8	1.8	11.5%
Oman	N/A	N/A	N/A	1.1	0%
Nigeria	1.2	1.1	1.1	1.0	-5.9%
Singapore	0.3	0.2	0.4	0.8	38.7%
Angola	1.2	0.8	0.8	0.6	-20.6%
Australia	0.6	0.3	0.2	0.5	-5.9%
France	0.1	0.1	0.3	0.4	58.7%
Others	1.1	1.2	2.3	1.9	20.0%
Total	17.3	15.2	24.0	32.4	23.3%

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to India in 2022:

Qatar (15.8M tons)
United Arab Emirates (7.6M tons)
Saudi Arabia (3.8M tons)
Kuwait (2.8M tons)
United States (2.4M tons)
Australia (1.3M tons)
Oman (1.1M tons)
Nigeria (1.1M tons)
Singapore (1.0M tons)
France (0.9M tons)
Angola (0.7M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons in India

Exports of petroleum gases and other gaseous hydrocarbonses from India amounted to 539K tons in 2022, therefore, remained relatively stable against the previous year. The total export volume increased at an average annual rate of +4.1% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of petroleum gases and other gaseous hydrocarbonses surged to $499M in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 70%. The exports peaked in 2022 and are expected to retain growth in the near future.