Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

OIL PRICES

Saudi LPG Prices Raised For August Because Of High Crude Prices And Strong Demand

Saudi Aramco and Kuwait Petroleum Corporation (KPC) announced their August LPG pricing formulas to customers on 1 August, raising the price for propane by $23/ton to $338/ton and the price for butane by $8/ton to $343/ton. MEES soundings indicate that the price rises were a result of the recent all-time high crude oil prices, since the crude price...