Saudi Aramco & Algerian Sonatrach Increase LPG Prices for August

Saudi Arabia's state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas by between 6% and 7% for August due to higher demand on the global markets, traders said on Friday.

Algeria's Sonatrach lifted LPG prices for August by between 19% and 23%, the traders said.

Saudi Aramco's August OSPs increased by US$40 per metric ton to US$620 a ton for propane and by US$40 a ton to US$640 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.

Sonatrach increased its August propane OSP by US$100 a ton to US$540 and for butane by US$90 a ton to US$570 .

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 Turkey.