Gas prices drop sharply
Domestic retail gas prices have dropped by 33,640 - 35,500 VND/12kg cylinder since today (June 1). The reason for the sharp drop in domestic gas prices is the rapid drop in world gas prices.
Many gas businesses have just announced price reductions for this product starting June 1. Accordingly, compared to May, each 12kg gas cylinder delivered to consumers has decreased by 33,640 - 35,500 VND.
Specifically, the retail price of Petrolimex gas (including VAT) from June 1 in the Hanoi market is 371,600 VND/12kg household cylinder; 1,486,300 VND/48kg industrial cylinder, respectively decreasing by 33,640 VND/12kg cylinder and 134,660 VND/48kg cylinder.
Similarly, the announcement of the City Petro brand said that from June 1, the retail gas products of this enterprise will be reduced by 2,968 VND/kg. Thus, the 12kg gas cylinder of City Petro reaching consumers will be reduced by 35,500 VND/cylinder, and the 45kg gas cylinder will be reduced by 133,500 VND/cylinder.
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Gas prices drop sharply. Photo: VnEconomy |
Vietnam LPG Trading Joint Stock Company Southern Branch also said that since June 1, the gas price of this brand has decreased by 35,000 VND/12kg cylinder and 131,250 VND/45kg cylinder compared to the previous month, equivalent to a decrease of 2,917 VND/kg (including VAT). Thus, the retail price of gas of this brand to consumers is 384,912 VND/12kg cylinder and 1,443,000 VND/45kg cylinder.
Meanwhile, Pacific Petroleum Trading Joint Stock Company said that from June 1, the company's gas price will decrease by VND35,500/12kg cylinder and VND148,000/50kg cylinder. Accordingly, the retail price to consumers of this brand is VND403,000/12kg cylinder and VND1,678,000/50kg cylinder.
According to gas companies, the reason for the sharp drop in domestic gas prices is the rapid drop in world gas prices.
Many countries around the world are experiencing hot summers, so fuel consumption has decreased, helping to cool down world gas prices.
The average world gas price in June 2023 closed at 445 USD/ton, down 110 USD/ton compared to May. Therefore, domestic gas businesses also adjusted down accordingly.
Currently, domestic gas supply can only meet about 60% of consumption. Therefore, domestic gas retail prices are controlled and influenced by world gas prices.
Since the beginning of the year, domestic gas prices have decreased 4 times (in January, March, April and June) with a total decrease of 123,000 VND/12kg cylinder. Since the beginning of the year, domestic gas prices have increased 2 times (in February and May).
