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Aramco’s Surprise LPG Price Cut to Ramp Up Competition for Sales

Bloomberg.com · last updated

Saudi Arabian Oil Co. cut prices for liquefied petroleum gas to the lowest since August 2023, a move that could help bolster sales of the widely-used cooking fuel amid rising competition with rivals.

The Middle Eastern energy giant reduced benchmark Saudi contract prices for propane and butane to $495 and $475 a ton, respectively, for October. That’s lower than expected, according to traders who monitor the flow. The move came at a time when term buyers had been hesitant to commit to similar quantities from Aramco in 2026 as they had taken this year, they said.

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