Saudi Aramco and Algeria’s Sonatrach have reduced their official selling prices (OSPs) for liquefied petroleum gas (LPG) in March by 0.9% to 3.2% due to lower oil prices and weak global demand, traders said Monday.
Aramco cut propane prices by $20 to $615 per metric ton and butane prices by $20 to $605 per ton.
Sonatrach lowered its propane OSP by $5 to $560 per ton and butane by $15 to $585 per ton. LPG, mainly used as fuel for cars and heating, also serves as a feedstock for petrochemicals.
Aramco’s OSPs are key benchmarks for LPG contracts in the Asia-Pacific region, while Sonatrach’s prices influence the Mediterranean and Black Sea markets, including Turkey.
