Saudi Aramco raises LPG OSPs by up to 3% for June, Sonatrach cuts prices by 18% and 31%
- Saudi Aramco’s June OSPs increase by $10 per metric ton to $760 a ton for propane
MOSCOW: Saudi Arabia’s state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas by between 1% and 3% in June, while Algeria’s Sonatrach has cut them by between 18% and 31% due to higher supply in the Mediterranean market, traders said on Monday.
Saudi Aramco’s June OSPs increased by $10 per metric ton to $760 a ton for propane and by $20 a ton to $820 per ton for butane.
Propane and butane are types of LPG with different boiling points. LPG is mainly used as fuel for cars, heating and as a feedstock for other petrochemicals.
Sonatrach decreased its June propane OSP by $125 a ton to $575 and for butane by $270 a ton to $610.
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Saudi Aramco’s OSPs are used as a reference for contracts to supply LPG rom the Middle East to the Asia-Pacific region.
Sonatrach’s OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkey.
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