KPC announces November's liquefied gas prices

Propane will be sold at USD 750 per metric ton for the current month, up USD 15 compared to USD 735 for last October, according to a statement by Kuwait Petroleum Corporation issued on Thursday about prices of liquefied petroleum gas (Propane and Butane) for November.Butane will be sold at USD 810 per metric ton during November, a drop of USD 5 compared to USD 815 last month, the KPC statement said.LPG prices are affected by oil prices, besides supply and demand in the international market, and the rise and drop of the US dollar's price, in addition to other factors.It is also affected by the political and security factors around the world, especially the current situation in the Middle East and North Africa, namely fears of shortage in supply due to tensions in oil exporting countries.The International economy is facing a fluctuating phase due to fears of the economy recovery that affects demand of oil and gas.The United States economy is facing a number of troubles, besides slow growth in European and Asian economies.The European sovereignty debt crisis is mastering the scene, and is being the main factor that affects the recovery of international economy, that forced investors to abandon their risky investments in oil and gas.Propane and Butane gases are used for many purposes, especially in cooking, heating and production of petrochemical substances.