Saudi Aramco has raised its official selling prices for liquefied petroleum gas by between 5.9% and 6.8% for November, traders said on Friday, Reuters reported.
The traders attributed the increase to seasonally higher demand and limited LPG supply on global markets.
Aramco’s November propane price rose by $40 a metric ton to $720 a ton.
Its butane price rose by $50 a ton to $780 a ton.
Asian benchmark
Aramco’s official selling prices are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.
Propane and butane are the two main types of LPG. The fuel is mainly used in cars, for heating and as a feedstock for petrochemicals.
Sonatrach increase
Algeria’s state energy company Sonatrach raised its November LPG prices by between 23% and 40%, the traders said.
Sonatrach lifted its propane price by $155 a ton to $825 and its butane price by $300 a ton to $1,050.
Sonatrach’s prices serve as benchmarks for the Mediterranean and Black Sea region, including Turkey.
