LPG, or liquefied petroleum gas, is a liquid hydrocarbon mix which is composed of butene, butane, propene, and propane. It looks like a colourless gas with no odour and has an added smell which makes its leak noticeable. It is a non-renewable energy source that is obtained from natural gas and crude oil with applications in both domestic and industrial areas. The gas is highly combustible and non-toxic. Owing to the lack of sulfur in it, LPG is a cleaner burning fuel which is easy to store at moderate pressure, as well as easy to pack and use.
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The top exporters of LPG are Qatar, the United States, United Arab Emirates, Canada, and Saudi Arabia, while the largest LPG importers are China, Japan, Italy, India, and the United Kingdom.
Key Details About the LPG Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the LPG price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The LPG Price Trends, including India LPG price, USA LPG price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting LPG Price Trend:
Liquified petroleum gas (LPG) is a crucial commodity that is used as a fuel in domestic applications such as cooking and heating. In addition to its application in household uses, it is used to power appliances like cooktops, gas stoves, ovens, fireplaces, and heaters, as well as in geezers, which derive its market demand forward. Also, other applications propelling the industry’s expansion include its role as a vehicle fuel, to power cogeneration plants etc., which in turn promote market expansion.
Key Players:
- Gazprom PAO
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- Total SA
- BP Plc
News & Recent Development
- 1 April 2023– the 19 kg commercial Liquefied Petroleum Gas (LPG) cylinder price in India was cut to Rs 2,028, down by Rs 91.50.
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