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 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. Aramco offers more crude oil cargoes from Mediterranean amid Red Sea threats, sources say 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.