KPC announces July prices for Propane, Butane

Kuwait Petroleum Corporation (KPC) announced its prices for Propane and Butane for the month of July on Wednesday.A KPC press statement said a metric ton of Propane would sell for USD 815, which is a decline of USD 40 from June's USD 855.Butane would meanwhile sell for USD 855, a drop of USD 70 compared to June's USD 925.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 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.