New LNG prices
Kuwait Petroleum Corporation (KPC) announced yesterday new prices for liquefied gas (propane and butane) for August. Propane will be sold for $420 per metric ton this month, up $75 compared to last July where it was sold at $345, KPC said in a statement. Meanwhile, butane will be sold at $460 per metric ton, up $95 compared to July where it was recorded at $365, it added. Propane and butane are used in petrochemical industries and they are also used for heating and as cooking fuel. The price of these gases is affected by oil prices and the performance of the US dollar against other main currencies. It is also affected by geopolitical factors, natural disasters and economic crises.