Air Products’ merchant customers in North America will soon be hit with bigger bills after the Tier One corporation announced double-digit price hikes for its industrial gases.
Liquid argon (Ar) customers will be the worst-hit, subject to a 20% increase.
Liquid oxygen (O2), liquid nitrogen (N2), and liquid and bulk hydrogen (H2) prices will rise by 15%, and liquid carbon dioxide (CO2), and liquid and bulk helium (He) prices will also increase by 10%.
The increases are effective as of 1st March, 2017, or as contracts permit.
The company cites that the price adjustments are in response to increased operating costs. Air Products also stated that it will support continued investments to improve the reliability, security and safety of its operations.
This is the second price increase to affect merchant North American customers in five months after Air Products also raised its rates in October, 2016.