Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
Algeria's Sonatrach and Saudi Arabia's Aramco have raised official selling prices (OSPs) for liquefied petroleum gas (LPG) in October by around 3%–4% from September due to limited supply on the global market, traders said on Tuesday.
Aramco's October OSP for propane was increased by $20/tonne to $625/tonne, while butane's prices rose by $25/tonne to $620/tonne.
Propane and butane are types of LPG with different boiling points. LPG is mainly used as a fuel for cars and heating as well as a feedstock for other petrochemicals.
Sonatrach held its October OSP for propane steady at $590/tonne, while the OSP for butane increased by $15/tonne to $580/tonne.
Aramco's OSPs for LPG are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region.
Sonatrach's OSPs for are used as benchmarks for LPG in the Mediterranean, Black Sea region and Turkey.
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