Riyadh – Mubasher: State-run Saudi Aramco has slashed propane price by $95 to $430 per tonne for June contracts, compared to $525 per tonne in May, according to Reuters.
Aramco’s price is a benchmark for the prices of the Middle East liquefied petroleum gas (LPG) sales to Asia.
Saudi Arabian Oil Co., as Aramco is officially known, hiked contract prices for propane to $525 per tonne in May, against $515 per tonne during the prior month.
The world’s most profitable company and the largest crude producer also raised contract prices for butane to $415 per tonne in June, down $115 from $530 per tonne during the prior month.
