The Kuwait Petroleum Corporation (KPC) announced Tuesday the Liquefied Natural Gas (LNG) prices - propane and butane - for January. KPC said in a statement that the propane will be sold for USD 850 per metric ton in the current month of January, an increase of USD 80 compared to December price that reached USD 770 per metric ton. The butane will be sold at USD 910 per metric ton during January, with a rise of USD 90 compared to USD 820 per metric ton in December.
The prices of propane and butane are affected by hikes and drops of international oil prices.
They are also affected by raising and dropping of the US dollar compared to main currencies.
The hike in gas prices is also due the escalation of political tension in the Middle East and North Africa which caused fear of gas supplies shortage from these regions to rest of the world.
The winter season, as usual, played a vital part in increasing gas prices.
The propane and butane are of multi-purposes, as they are used in coking, heating and production of petrochemical substances.(QNA)