On the afternoon of May 31, some general agents and gas retailers in Ho Chi Minh City said they had received a notice of gas price reduction from June 1 with a popular reduction of 31,000 VND / 12 kg bottle.
According to Vietnam LPG trading joint stock company – PV GAS Southern (Petro VietNam), the world price of imported gas under contract (CP) in June has just closed at 750 USD/ton, down 105 USD/ton compared to the previous month 5.
Therefore, the retail gas price in the country is also adjusted down by 2,583 VND/kg, equivalent to 31,000 VND/12 kg cylinder and down more than 116,000 VND/45 kg cylinder compared to May.
Gas prices in June fell sharply according to world prices
Retail price to consumers in June Petro VietNam gas was announced at 457,900 VND/ 12 kg tank; SP gas 456,000 VND/bottle of 12 kg.
Thus, gas has had 2 consecutive months of sharp decline with a total reduction of 60,000 VND/12 kg cylinder. This is good news for housewives who changed gas in June after suffering from spending pressure because many essential items such as instant noodles, cooking oil, eggs, meat, etc had increased in price.
Continuously high gas prices in the first months of 2022 have caused consumption of this item to drop sharply at 30%. Gas retail chains said that when customers switch to electric stoves, it is difficult for induction cookers to return to gas, so it is difficult to restore output.
As a result, systems have to work with partners like banks to reduce prices for cash-paying customers or cut profits to keep customers.
Therefore, some gas systems will be sold to consumers at a price below the maximum price announced by manufacturers, less than 450,000 VND/kg.
Source: CafeF
Source: Vietnam Insider