The official selling prices (OSPs) of Saudi Aramco and Algerian Sonatrach of liquefied petroleum gas (LPG) have increased by a rate of between 3.3% and 5.4% in December, traders added, due to low global supply.

Saudi Aramco raised its December OSP on propane by 20 US dollars per metric ton to $495 US dollars per ton, and on butane by 25 US dollars per ton to $485 US dollars per ton.

LPG can take the form of propane and Butane with varied boiling points. LPG is consumed as an automotive fuel, heating fuel, and petrochemical feedstock.

Sonatrach increased its December propane and butane OSP by 15 and 20 per ton, respectively, to 470 and 485.

The OSPs of Aramco are used to set the price of the LPG supply contract between the Middle East and the Asia-Pacific region.

The OSPs of Sonatrach serve as the benchmark of the Mediterranean and Black Sea markets, which include Turkey.