Saudi Aramco, Sonatrach and other LPG suppliers raise LPG prices by 38% to 80% in April.
Due to a limited global supply, Saudi Arabia's Saudi Aramco and Algeria's Sonatrach raised their official'selling prices' for liquefied petrol gas by between 38% and 80% in April.
The Middle East war has caused the biggest energy crisis in decades. Global prices have risen to record highs.
Several?LPG plants in the Gulf have been damaged.?Shipments of propane and butane, which previously accounted for around 30% of seaborne LPG exports worldwide, are now suspended due to the 'closure of the Strait of Hormuz.
Saudi Aramco increased its April OSP by $205 per metric ton, to $750 per ton
Propane, butane, and other types of LPG have different boiling points. LPG is used primarily as a fuel for 'cars, heat and as a feedstock to other petrochemicals.
Sonatrach has increased its April OSP (Off-Season Price) for propane from $850 to $325 per ton
Saudi Aramco’s?OSPs serve as a guide for contracts to provide LPG from the Middle East?to Asia-Pacific.
Sonatrach?OSPs serve as benchmarks in the Mediterranean and Black Sea regions, including Turkey. (Reporting and Editing by Eileen Soreng).
(source: Reuters)
