Import prices of LPG drop in Oct.

SEOUL (Yonhap) - South Korea's import prices of liquefied petroleum gas (LPG) fell in October on the back of a drop in international oil prices, industry sources said Thursday.
Saudi Aramco, the state-owned oil company of Saudi Arabia, has informed South Korean importers that it has lowered prices of propane and butane gas to US$735 and $815 per ton, respectively, down $55 and $50 from the previous month, according to the sources.
LPG import prices fell for two straight months after they rose in August. They reached an all-time high of $945 for propane gas and $995 for butane gas in May.
International oil prices hovered around $97 last month due to fears over another global recession, dragging down South Korea's import prices of LPG, said the sources.
The decline in the import costs if reflected in this month's LPG prices at the pump would be offset by the weak local currency, they noted. The South Korean won has fallen sharply against the U.S. dollar, losing some 10 percent last month.
Local importers adjust their LPG prices on a monthly basis, based on import prices, currency rates, taxes and other costs.