LEHIGH VALLEY, Pa. (AP) -- Air Products & Chemicals Inc. said Tuesday it will raise North American prices and monthly service charges for liquid and bulk industrial gas products starting Oct. 1 due to higher costs of running plants with weaker demand.
The company said it plans to increase prices and charges for liquid oxygen, liquid nitrogen, liquid argon, and liquid and bulk hydrogen by 4 percent to 8 percent, and liquid and bulk helium by 5 percent to 10 percent.
Some price adjustments may be outside those ranges based on specific situations, the company said.
The move comes in response to higher operating costs related to running plants with significantly lower product demand, higher costs for energy and increased expenses related to the production and distribution of merchant gas products.
Shares of Air Products rose $1.18 to $76.24 in midday trading.