Propane prices in the World in December 2024
Global oil prices began to rise significantly in 2004, reaching record highs in mid-2008. After falling sharply in the second half of 2008, prices gradually rose until the first half of 2011 and have fluctuated since then. In early 2012, Saudi Aramco's prices for propane and butane - important benchmark prices for LPG - exceeded their 2008 peak in nominal and real terms, and nominal gasoline prices in April 2012 also reached levels observed in mid-2008, followed by a sharp decline. The spikes - and wild fluctuations in the case of LPG - in global prices have posed significant challenges to the governments of the countries that control fuel prices and LPG pricing is highly politicized
For consumers in many countries, the adverse effects of sharp increases in global oil prices on the global market since late 2003 have been exacerbated by the depreciation of the currency against the US dollar, in which prices are denominated. oil world. Between 2003 - before oil prices began to rise - and 2011, the currency depreciated in two-fifths of developing countries, spread evenly across income categories. On the contrary, the appreciation of more than 40% was disproportionately concentrated in upper-middle-income countries.
The price of autogas in the world is around 50% cheaper than traditional fuels, scales that are approximately maintained in all countries
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The LPG rate in each country in December 2024
LPG Price News from around the World
- April 10, 2023
LPG markets are expected to trend higher in the coming weeks and months as tonne demand will increase significantly.
The Saudi state oil company, Aramco, and the Algerian company Sonatrach reduced the official April sales prices of liquefied petroleum gas (LPG) between 23% and 26% compared to March, according to the operators. The drop is due to the fact that LPG prices have fallen around the world due to the increase in the supply of propane and butane in global markets.
Aramco's price for propane fell $165 to $555 a ton, while the price for butane fell $195 to $545. Sonatrach's propane price fell $145 to $495 a ton, while butane fell $180 to $510. Aramco's LPG prices are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region. Sonatrach prices for LPG are used as a reference for the Mediterranean, the Black Sea region and Turkey.