Saudi Aramco, Sonatrach Raise LPG Prices Amid Global Market Shift

Saudi Arabia's state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas (LPG) by between 9% and 11% for October. The price increase is due to rising oil prices and higher demand on global markets, according to traders.

The OSPs (official selling prices) are used as a reference for contracts to supply LPG from the Middle East to the Asia-Pacific region. Saudi Aramco's October OSPs increased by $55 a metric ton to $680 a ton for propane and by $70 a ton to $730 a ton for butane.

In a separate move, Algeria's state oil producer Sonatrach also raised LPG prices for October by between 20% and 23%. The OSPs for propane increased by $110 a ton to $670, while the OSPs for butane rose by $140 a ton to $750.