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Airgas Inc. (NYSE: ARG), Radnor, PA, has increased prices on helium by 20 percent on average, effective immediately or as contracts permit. Some increases may differ based on specific market conditions or contractual provisions.
The pricing action is in response to rising crude helium prices being charged by the Bureau of Land Management to helium refiners, which in turn have driven up the cost of pure helium from suppliers. Supply chain disruptions remain a challenge to the industry as the global shortage and resulting allocations of helium are nearing the end of their third year.
"In addition," said Airgas CEO Michael Molinini, "supplier allocations and constantly changing supply and demand geographies are causing us to incur greater distribution expenses to move the product from where we receive it to where it is needed by our customers."