Net petchem margins have strengthened in April 2026 across ethane, propane, and butane. Ethane remains the highest-margin feedstock, averaging 24 c/lb of ethylene produced for April to date, up 47% month over month from March’s average of 16 c/lb and up 211% year over year from 8 c/lb. Propane is averaging 21 c/lb for April, up 178% from March’s 8 c/lb and rebounding from year-ago levels of -13 c/lb. Butane is averaging 18 c/lb for April, up significantly from March’s average of less than 1 c/lb and from 13 c/lb a year earlier. Natural gasoline is averaging -13 c/lb for April, improving by 51% from March’s -26 c/lb and modestly above last year’s -15 c/lb.
