The ethane price at Mont Belvieu, Texas, broke through—no, more like exploded through the 40 cents per gallon (gal) ceiling last week to its highest level since the week ending May 1, 2012.
How long has it been? The last time ethane surpassed 44 cents/gal, future Houston Texan Deshaun Watson was still seven months away from setting the Georgia state high school passing record as quarterback of the Gainesville Red Elephants; Shohei Otani graduated high school and signed with the Hokkaido Nippon-Ham Fighters; and “Gangnam Style” first appeared on YouTube (3.2 billion views later, it’s still there).
Ethane’s dramatic price rise shows how it gives 110%. Literally. The price is up 110% for the year and the margin leapt more than 32% last week to close in on 26 cents/gal. Since the end of July, ethane’s price has zoomed 39%.