KPC announces August prices for Propane, Butane

Kuwait Petroleum Corporation (KPC) announced its prices for Propane and Butane for the month of August on Tuesday. A KPC press statement said a metric ton of Propane would sell for USD 835, which is an increase of USD 20 from July's USD 815. Butane would meanwhile sell for USD 885, a rise of USD 30 compared to July's USD 855. Prices of liquefied gas are affected by oil prices, since oil is the crude material in this case, and are also currently under the influence of geo-political instability in the Middle East and North Africa region. This is also partly because there are fears of shortage in supply as the situation worsens in Libya, Africa's third biggest oil producer. Propane and Butane have an array of uses, and are most particularly sought for cooking, heating, and petrochemical industries.