Algeria’s Sonatrach and Saudi Arabia’s Aramco 2222.SE have raised official selling prices (OSPs) for liquefied petroleum gas (LPG) in November by about 1-3% from October owing to growing global demand, traders said on Friday.

Aramco’s OSP for propane was increased by $10 to $635 a metric ton PRO-OFFCL-SA and butane rose by $10 to $630 a ton.

Propane and butane are types of LPG with different boiling points. LPG is mainly used as a fuel for cars and heating as well as a feedstock for other petrochemicals.

Sonatrach raised the OSP for propane by $5 to $595 a ton PRO-OFFCL-DZ while butane was lifted by $20 to $600 a ton

Aramco’s OSPs for LPG are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region.

Sonatrach’s OSPs are used as benchmarks for LPG in the Mediterranean, Black Sea region and Turkey.
Source: Reuters (Reporting by Reuters, Editing by David Goodman)