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LPG Prices Cut by Saudi Aramco and Sonatrach for March
Price Reductions Due to Weak Demand and Lower Oil Prices
Saudi Aramco and Algeria’s Sonatrach have reduced their official selling prices (OSPs) for liquefied petroleum gas (LPG) in March, citing lower global demand and declining oil prices.
Saudi Aramco’s Price Adjustments
- Propane: Reduced by $20 to $615 per metric ton
- Butane: Reduced by $20 to $605 per metric ton
Sonatrach’s Price Adjustments
- Propane: Reduced by $5 to $560 per metric ton
- Butane: Reduced by $15 to $585 per metric ton
Differences Between Propane and Butane
Propane and butane are both types of LPG with different boiling points. They are commonly used as fuel for vehicles and heating, as well as feedstock for petrochemical production.
Market Impact and Regional Influence
- Aramco’s OSPs serve as a reference for LPG supply contracts from the Middle East to the Asia-Pacific region.
- Sonatrach’s OSPs are used as benchmarks for the Mediterranean and Black Sea regions, including Turkey.
Conclusion
The price cuts reflect shifting market conditions and are expected to influence LPG trade dynamics in key regions.
“LPG Prices Cut by Saudi Aramco and Sonatrach for March”