Saudi Arabian Oil Co. (Saudi Aramco) raised its propane contract prices for December by $40 per ton month-on-month (MoM) to $650 a ton.
| Month | Value (Dollar\Ton) | Change |
|---|---|---|
| 2022 January | 740.00 | (55.00) |
| 2022 February | 775.00 | 35.00 |
| 2022 March | 895.00 | 120.00 |
| 2022 April | 940.00 | 45.00 |
| 2022 May | 850.00 | (90.00) |
| 2022 June | 750.00 | (100.00) |
| 2022 July | 725.00 | (25.00) |
| 2022 August | 670.00 | (55.00) |
| 2022 September | 650.00 | (20.00) |
| 2022 October | 590.00 | (60.00) |
| 2022 November | 610.00 | 20.00 |
| 2022 December | 650.00 | 40.00 |
The oil giant also hiked butane contract prices for December by $40 a ton MoM to $650 a ton.
| Month | Value (Dollar\Ton) | Change |
|---|---|---|
| 2022 January | 710.00 | (40.00) |
| 2022 February | 775.00 | 65.00 |
| 2022 March | 920.00 | 145.00 |
| 2022 April | 960.00 | 40.00 |
| 2022 May | 860.00 | (100.00) |
| 2022 June | 750.00 | (110.00) |
| 2022 July | 725.00 | (25.00) |
| 2022 August | 660.00 | (65.00) |
| 2022 September | 630.00 | (30.00) |
| 2022 October | 560.00 | (70.00) |
| 2022 November | 610.00 | 50.00 |
| 2022 December | 650.00 | 40.00 |
Prices are based on a free-on-board (FOB) basis from the Port of Ras Tanura.
Saudi Aramco's prices are used as a benchmark by Asian exporters since it is Asia's biggest exporter of liquefied petroleum gas (LPG).
The world’s largest oil producer sells propane and butane to local petrochemical firms at a 20% discount from FOB Ras Tanura prices, based on the pricing rate applied since early 2017.
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