Middle East Economic Survey
Saudi LPG Prices Reduced In Line With Crude Price Fall
Saudi Aramco and Kuwait Petroleum Corporation (KPC) announced their July LPG pricing formulas to customers on 30 June, reducing the price for propane by $23/ton to $315/ton and reducing butane by $20/ton to $335/ton. MEES soundings indicate that the LPG price reduction was largely a result of the reduction in crude oil prices over the last few weeks. Because of the LPG pricing...