Saudi Aramco & Algerian Sonatrach Raise LPG Prices for February

Saudi Arabia's state oil producer Aramco ‍and Algeria's ‍Sonatrach have raised official selling ​prices for liquefied petroleum gas in ⁠February by between 1% and 5.3% because ⁠of limited global ‌supply, traders said. Saudi Aramco's February OSP increased by US$20 a metric ⁠ton to US$545 a ton for propane and by US$20 a ton to US$540 a ton for butane.

Propane ⁠and butane are ​types of LPG with different boiling points. LPG is ‍mainly used as fuel for cars, ​heating and as a feedstock for other petrochemicals. Sonatrach increased its February OSP for propane by US$25 a ton to US$500 and for butane by US$5 a ton to US$490 a 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 ⁠and Black Sea region, including Turkey.