Aramco and Sonatrach Raise Official Selling Price of LPG in February

Traders noted that "Saudi Aramco and Algerian Sonatrach have raised the official selling prices of liquefied petroleum gas (LPG) for February by between 1.6% and 2.0% compared to January due to rising oil prices and increased demand." Aramco increased the official selling price of propane for February by $10 to $630 per ton, while the official selling price of butane also rose by $10 to reach $640 per ton. Propane and butane are two types of liquefied petroleum gas with different boiling points. LPG is primarily used as fuel for vehicles, in heating, and as a raw material for other petrochemicals. Sonatrach raised the official selling price for propane for February by $10 per ton to $520, while the official selling price for butane remained at $540 per ton. Aramco's official selling prices for LPG are used as a reference for supply contracts from the Middle East to the Asia-Pacific region, while Sonatrach's official selling prices for LPG serve as a benchmark for the Mediterranean, Black Sea, and Turkey.