Kuwait Petroleum Corporation (KPC) announced on Tuesday new prices for liquid gas (Propane and Butane) for October.
The corporation said in a statement to Kuwait News Agency (KUNA) that propane gas will be sold for USD 820 per metric ton, down by USD 30 compared to last September, which recorded a price of USD 850. Butane gas will be sold for USD 850 per metric ton, down by USD 25 compared to USD 875 of last September, added the corporation.
Liquid gas prices decreased during October, compared to last September where the propane prices went down by 3.5 percent, while butane prices went down by 2.8 percent.
The corporation noted that propane and butane were both sold at the same price of USD 820 per metric ton last August.
Both gases are used for petrochemical industries, cooking gas, and heating among other different uses. The prices of liquid gases are affected by prices in international oil markets, the exchange rate of the US dollar against the main currencies, as well as high and low demands on gas in the markets. Liquid gas prices are also affected by geopolitical factors, natural disasters and economic crises.