Saudi Aramco raises LPG OSPs by up to 3% for June, Sonatrach cuts prices by 18% and 31%

MOSCOW: Saudi Arabia’s state oil producer Saudi Aramco has raised official selling prices for liquefied petroleum gas by between 1% and 3% in June, while Algeria’s Sonatrach has cut them by between 18% and 31% due to higher supply in the Mediterranean market, traders said on Monday. Saudi Aramco’s June OSPs increased by $10 per metric ton to $760 a ton for propane and by $20 a ton to $820 per 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 decreased its June propane OSP by $125 a ton to $575 and for butane by $270 a ton to $610. Saudi Aramco offers oil in rare tenders as Iran war disrupts exports, traders say Saudi Aramco’s OSPs are used as a reference for contracts to supply LPG rom the Middle East to the Asia-Pacific region. Sonatrach’s OSPs are used as benchmarks for the Mediterranean and Black Sea region, including Turkey.

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