Sonatrach of Algeria and Aramco of Saudi Arabia have raised the official selling prices of liquefied petroleum gas (LPG) in August, by between 18% and 39% compared to July prices, due to rising oil prices and a global shortage of LPG, according to traders.
Aramco increased the official selling price of propane for August by $70 to $470 per ton, while the official selling price of butane surged by $85 to $460 per ton. Similarly, Sonatrach raised its official selling price for propane in August by $70 to $470 per ton, while the price for butane increased by $130 to reach $465 per ton.
The official selling price set by Aramco for LPG serves as a reference for supply contracts from the Middle East to the Asia-Pacific region. In contrast, the official selling price from Sonatrach is a benchmark for Turkey and the Mediterranean and Black Sea regions.
