The two oil producers, Saudi Aramco and Algerian Sonatrach, lowered official selling prices for liquefied petroleum gas for the month of April.
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Saudi Aramco (archive).
The Algerian oil producing companies Saudi Aramco and Sonatrach reduced the official selling prices of liquefied petroleum gas for the month of April by between 23 and 26% compared to the month of March.
Traders explained that the decrease is due to the drop in liquefied petroleum gas prices globally, due to the increase in the supply of propane and butane in the international markets.
Aramco cut the official selling price for propane for the month of April by $165 to $555 per ton, while lowering the official selling price for butane by $195 to $545 per ton.
Sonatrach’s official selling price for propane decreased by $145 to $495 per ton, and the official selling price for butane decreased by $180 to $510 per ton.
The official selling price set by Aramco for liquefied petroleum gas is used as a reference for supply contracts from the Middle East to the Asia-Pacific region. As for the official selling price of Sonatrach, it is a standard for the Mediterranean, the Black Sea and Turkey