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LPG Prices Surge: Aramco Hikes, Algeria Slashes
2 Jun
Summary
- Saudi Aramco raised June LPG prices for propane and butane.
- Algeria's Sonatrach significantly reduced its June LPG prices.
- Market supply dynamics are influencing divergent price adjustments.
Saudi Arabia's state oil producer, Saudi Aramco, has adjusted its official selling prices for liquefied petroleum gas (LPG) for June. The company increased prices for propane by $10 per metric ton to $760 and for butane by $20 per metric ton to $820.
In contrast, Algeria's state energy company, Sonatrach, has reduced its official selling prices for June LPG. Sonatrach decreased its propane price by $125 per ton to $575 and its butane price by $270 per ton to $610. These reductions, ranging from 18% to 31%, are attributed to increased supply within the Mediterranean market.
Aramco's prices serve as a benchmark for LPG contracts supplying the Asia-Pacific region. Sonatrach's pricing influences the Mediterranean and Black Sea markets, including Turkey.
