LPG’s Aramco price hits record high at $ 1,031 per ton

The international price of liquefied petroleum gas (LPG) has jumped by $ 139 to record high at $ 1,031 per ton for February 2012 with analysts describing it as the highest increase.

Industry sources said that Saudi Armco Contract Price (CP) has surged to record high due to surge in prices of butane by $ 160 per ton while propane is up by $ 130 per ton. The spike has prompted several countries including Pakistan to effect an upward revision.

Indonesia Govt. mulls hiking fuel prices by up to 44%