https://arab.news/wm8qe
RIYADH: Saudi Aramco has increased the official selling prices for propane and butane for February, according to a statement released on Thursday.
The new prices are set at $635 per tonne for propane and $625 per tonne for butane, reflecting a $10 rise for each product compared to the previous month.
Both propane and butane are types of liquefied petroleum gas, commonly used for heating, vehicle fuel, and as feedstock in the petrochemical industry. Although similar, these gases have different boiling points, making them suitable for a range of specific applications.
Aramco's OSPs for LPG serve as important benchmarks for contracts supplying these products from the Middle East to the Asia-Pacific region.
Propane demand typically peaks in the winter months, as it is a key source of home heating, and this seasonal increase often drives up prices.
The fluctuations in price are a direct reflection of supply and demand dynamics, with colder weather pushing prices higher in line with greater consumption.