Hike in domestic price of LPG in China
- 01-Dec-2021 6:40 AM
- Journalist: Xiang Hong
As per industry source Shandong, the price of LPG was observed as $836/ton on 29th November and $838/ton on 30th November with the single day increment of 0.23% which was down by 9.54% compared to 1st November.
Shandong civil gas has increased the domestic prices of Liquefied Petroleum Gas and sharp increase of international crude oil prices gave it a boost to the market. The overall transaction atmosphere was observed as working and the manufacturers have shipped smoothly which will increase the sale price of domestic producers of China. The prices of Butane were also surged due to its application in propane dehydrogenation plant which will be used for heating purpose for upcoming winters. Any increase in the Chinese heating demand would be met by Piped Natural Gas. PetroChina will raise its gas import from Russia via the power of Serbia pipeline at the end of the 2021
LPG is a fuel gas. Liquefied petroleum gas or liquid petroleum gas – LPG is also identified as propane and butane mixtures which are flammable in nature and are used as fuel in vehicles, as gas in automobiles, and as home heating gases, cooking fuel. LPG heating gases are propane and butane. They are commonly used for generating heat for home heating, cooking and commercial applications, including boilers. China is the major importer of LPG sharing 16% of world’s import trade which majorly imports from Qatar and Australia.
According to Chemanalyst, the demand of Liquefied Petroleum Gas will increase due to its wide applications in residential use and will depend on the fluctuation of crude oil price will decide the further price of Liquefied Petroleum Gas. In China, the price will expect to grow in the upcoming months. On the other hand, rising environmental consciousness will benefit the use of LPG by providing the better alternate to fossil fuel.