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Investing.com -- Algeria’s state energy company Sonatrach maintained its official selling prices (OSPs) for liquefied petroleum gas (LPG) in July, while Saudi Arabia’s Aramco reduced its prices by 4.2-4.4% amid weaker demand, according to traders.
Sonatrach kept its July OSP for propane stable at $445 per metric ton and butane at $435 per metric ton.
In contrast, Saudi Aramco (TADAWUL:2222) cut its July OSP for propane by $25 to $575 per ton and butane by $25 to $545 per ton.
Propane and butane are different types of LPG distinguished by their boiling points. LPG serves multiple purposes including as fuel for vehicles, heating, and as a feedstock in petrochemical production.
Aramco’s LPG pricing serves as a reference point for supply contracts from the Middle East to the Asia-Pacific region, while Sonatrach’s prices function as benchmarks for the Mediterranean and Black Sea regions, including Turkey.
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