Friday, 19 April 2024

Aramco, Sonatrach cut official selling price of liquefied petroleum gas in April

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Traders said that Saudi Aramco and Algeria’s Sonatrach reduced official selling prices for liquefied petroleum gas for April by between 0.9% and 3.1% compared to March due to declining demand.

According to Reuters, Aramco reduced the official selling price of propane for April by $15 to $615 per ton, while the official selling price of butane decreased by $20 to reach $620 per ton. Propane and butane are two types of liquefied petroleum gas and have different boiling points.

LPG is mainly used as a fuel for cars, heating, and as a feedstock for other petrochemicals.

Sonatrach reduced the official selling price for April for propane by five dollars per ton to reach $535, and for butane by ten dollars per ton to reach $570.

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, while Sonatrach’s official selling prices for liquefied petroleum gas are used as a standard for the Mediterranean, the Black Sea, and Turkey.

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