Saudi Aramco and Sonatrach raise LPG prices for September
- Saudi Aramco and Sonatrach have raised September LPG prices, signaling higher costs for this crucial energy source globally
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 propane and by $20 a ton to $660 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.
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Sonatrach increased its September propane OSP by $20 a ton to $560 and for butane by $40 a ton to $610.
Saudi Aramco’s OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.
Sonatrach’s OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkiye.