Saudi Aramco raises September propane, butane contract prices

30 August 2013 07:08  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco announced late on Thursday that it has raised its September contract prices of its propane and butane by $30/tonne (€23/tonne) and $55/tonne, respectively, from its August levels.

Saudi Aramco’s September contract price on an FOB (free on board) basis for propane is at $850/tonne, while that for butane is at $875/tonne, the company said.

The price hike is expected to boost China domestic prices of liquefied petroleum gas (LPG), industry sources said.

LPG contains primarily of propane and butane.

($1 = €0.76)

By: Lilian Hua

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