Middle East Economic Survey

VOL. L

No 10

5-Mar-2007

OIL PRICES/SAUDI ARABIA/KUWAIT

Saudi LPG Prices Reduced For March As Winter Heating Fuel Demand Slows

Saudi Aramco and Kuwait Petroleum Corporation (KPC) announced their March LPG contract prices on 28 February, reducing both propane and butane by $20/ton to $506/ton each. While crude oil pricing is a major factor in the LPG pricing formula, benchmark crude prices were strong during February and the LPG price reduction was largely due to falling...