Saudi Aramco reduces propane gas selling prices in March

Traders said that Saudi Aramco and the Algerian company, Sonatrach, reduced the official selling prices of propane gas for the month of March, by a rate ranging from nine to 11%, compared to February prices, amid weak demand and an increase in global supplies of liquefied petroleum gas.

According to Reuters, the official price at which Aramco sells propane fell by $70 to $720 per ton in March, while the official selling price for butane decreased by $50 to $740 per ton.

The official selling price of propane in Sonatrach fell by $80 to $640 per ton, but the official price of butane rose by $50 to $690 per ton.

Aramco’s official selling prices for liquefied petroleum gas are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region. The official selling prices of Sonatrach for liquefied petroleum gas are used as a reference standard for the Mediterranean, Black Sea and Turkey regions.