Saudi Aramco raised November propane price to Asia to multi-month high

Saudi Aramco has announced its official selling prices for liquefied petroleum gas (LPG) to Asia for November loading, marking a significant increase that continues a four-month upward trend. The latest adjustment has pushed propane prices to their highest levels in 20 months, driven primarily by robust global demand.

The new contract price for propane is set at $635 per ton on a free-on-board (FOB) basis from Ras Tanura. This figure not only reflects current market dynamics but also serves as a crucial benchmark for other Middle Eastern LPG suppliers, who will likely use this pricing as a reference point for their own assessments of market conditions in Asia.

The official price list for propane and butane is presented in the following table:

Propane is a primary feedstock used by propane dehydrogenation (PDH) operators in producing propylene monomers.

Written by: Rochelle Nguyen