Middle East Economic Survey


No 23


Saudi LPG Prices Reduced For June

Saudi Aramco announced its June LPG contract prices to customers on 31 May, reducing propane by $55/ton to $670/ton and reducing butane by $45/ton to $670/ton. The reduction can be attributed to last months slide in oil prices, since the Saudi pricing formula includes a factor based on benchmark crudes. Although the global LPG spot market slackened further in May, the Far East market, where the bulk of Saudi...