Kuwait Petroleum Corporation (KPC) announced new prices for liquefied gas (propane and butane) for August.
Propane will be sold for USD 780 per metric ton, down by USD 40 compared to last month, which recorded USD 820, while butane will be sold for USD 800 per metric ton, also down by USD 40 compared to last month's USD 840, the corporation said in a statement to Kuwait News Agency (KUNA) on Monday.
Propane and butane are used in petrochemical industries, cooking oil, and heating among other uses.
The prices of these gases are affected by oil prices in international markets, along with the exchange rate of the US dollar against the main currencies, geopolitical factors, natural disasters, and economic crises.