The Saudi Arabian oil Company released its official selling price for LPG (Liquified Petroleum Gas) for February xxxx. This recent increase in Saudi LPG prices was partially attributed to rising Crude oil costs, which led the official benchmark to raise the offered quotations. Moreover, the surging demand for LPG from the Asian market further contributes toward an uptrend.
At the beginning of February, Saudi Aramco, the major player in the LPG market, announced its official selling prices for February hike by USD xx per tonne for both propane and butane, pushing current prices to USD xxx and USD xxx per tonne, Ex-Dhahran, Saudi Arabia respectively. This directly impacted regional LPG prices as propane and butane are derived from Crude oil. While crude oil price movements influence LPG costs, they are not the sole factor. Regional supply and demand variations, infrastructure, and storage capacities also play a significant...
