Saudi Aramco maintains LPG prices for June

Saudi Aramco, a leading oil company, has announced that the contract prices for propane and butane will remain unchanged for June. Propane will be priced at $580 per tonne, while butane will be priced at $565 per tonne. Propane and butane are both types of liquefied petroleum gas (LPG), which are widely used for various purposes.

LPG, a versatile energy source, is commonly used as a fuel for vehicles, heating homes, and as a raw material for making petrochemical products. Saudi Aramco's Official Selling Prices (OSPs) for LPG are crucial benchmarks for contracts involving LPG supply from the Middle East to the Asia-Pacific region.

China, the largest consumer and importer of LPG globally, saw a significant increase in LPG imports in March. The country's LPG imports surged by 46% to 3.08 million metric tons compared to the previous month. This growth highlights China's strong demand for LPG, which consists of a mix of propane and butane.

The decision by Saudi Aramco to maintain LPG prices for June provides stability in the market. With China's increasing demand for LPG, the global LPG industry continues to play a vital role in meeting energy needs and supporting various industries.