S.Korea LPG importers to up prices again in July
SEOUL, June 5 (Reuters) - South Korean liquefied petroleum gas (LPG) importers will raise propane and butane gas prices again in July, after hiking them up to 12.6 percent in June, a Seoul-based LPG buyer said on Thursday.
The country's two importers -- SK Gas (018670.KS) and E1 (017940.KS) -- had already raised propane prices by more than 12 percent to around 1,253 won ($1.23) per kilogram, and butane gas prices by 9 percent to around 1,618 won as of June 1.
Butane is mostly used in cars and propane is used for utilities.
"LPG import prices rose $60 a tonne for butane, and $50 for propane gas for June, prompting another increase," said the source.
State-run Saudi Aramco has set its June contract price for propane at a record-high $895 a tonne, and June butane price to an all-time high of $920 a tonne. [ID:nT235209]
The prices provide a benchmark against which Middle East sales of LPG to Asia are priced.
SK Gas and E1 announce monthly price levels for their products at the end of the month, based on prices set by Saudi Aramco. (Reporting by Angela Moon; Editing by Jonathan Hopfner)
