Saudi Aramco and Sonatrach raise LPG prices for September
MOSCOW: Saudi Arabia’s state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas by between 1% and 3% for September due to higher demand on the global markets, traders said on Tuesday. Algeria’s Sonatrach lifted LPG prices for September by between 4% and 7%, the traders also said. Saudi Aramco’s September OSPs increased by $5 per metric ton to $625 a ton for…
Saudi Aramco and Algeria's Sonatrach have increased the official selling prices (OSPs) for liquefied petroleum gas (LPG) in September due to heightened demand in global markets. According to traders, Saudi Aramco raised its LPG OSPs by a range of 1% to 3%, while Sonatrach increased its OSPs by 4% to 7%.
For propane, Saudi Aramco's September OSP increased by $5 per metric ton to $625 a ton. Butane, another type of LPG, saw its OSP rise by $20 a ton to $660 per ton. Propane and butane are LPG variants with distinct boiling points. LPG is primarily utilized as fuel for vehicles, heating purposes, and as a feedstock for petrochemical production.
Sonatrach also made price adjustments for September. The company raised its propane OSP by $20 a ton to $560 and its butane OSP by $40 a ton to $610. Saudi Aramco's OSPs serve as a reference for contracts involving LPG supply from the Middle East to the Asia-Pacific region. Conversely, Sonatrach's OSPs act as benchmarks for LPG distribution in the Mediterranean and Black Sea regions, including Turkey.
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