Saudi Aramco & Algerian Sonatrach Cut Most LPG Products’ OSPs for June

Saudi Arabia's state oil producer Aramco and Algeria's Sonatrach lowered official selling prices (OSPs) for most liquefied petroleum gas (LPG) products for June from May due to falling crude oil and global LPG prices, traders said.

Sonatrach cut its June OSP for propane by US$5 to US$495 per metric ton and for butane by US$65 to US$425 per ton. , they said.

Propane and butane are types of LPG with different characteristics, including boiling points.

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

Aramco's June OSP for propane was unchanged at US$580 per ton , while that for butane dropped by US$20 to US$565 per ton .

Aramco's OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region.

Sonatrach's OSPs are used as benchmarks for the Mediterranean, Black Sea region and Turkey.