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Sonatrach reduces prices by 2-7%, Saudi Aramco maintains April LPG OSPs

Saudi Aramco's official selling prices for LPG (liquefied petroleum gases) in April are unchanged from those of March. Sonatrach, however, has cut its OSPs between 2-7% because of a weaker Mediterranean demand, according to traders on Monday.

Aramco’s April OSP was $615 per metric tonne. Butane costs $605 per ton , traders said.

LPG comes in two types: propane and butane. They have different boiling points.

LPG is primarily used as a fuel for heating and cars, as well as as a feedstock to make other petrochemicals.

Sonatrach has cut its April OSP (Off-Season Price) for propane from $550 to $10 per ton Butane is $40-$545 per ton , traders said.

Aramco’s OSPs serve as a guide for contracts to provide LPG from the Middle East into the Asia-Pacific Region.

Sonatrach OSPs serve as benchmarks in the Mediterranean and Black Sea regions, including Turkey. (Reporting and Editing by Louise Heavens).

(source: Reuters)