Algerian Sonatrach, Saudi Aramco Raise LPG Prices for October

Saudi Arabia's state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas by between 9% and 11% for October due to rising oil prices and higher demand on global markets, traders said on Thursday.

Algeria's Sonatrach lifted LPG prices for October by between 20% and 23%, the traders said.

Saudi Aramco's OSPs are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region while Sonatrach's OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkey.

Saudi Aramco's October OSPs increased by US$55 a metric ton to US$680 a ton for propane and by US$70 a ton to US$730 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 October propane OSP by US$110 a ton to US$670 and for butane by US$140 a ton to US$750 .