Gas prices have risen sharply, putting consumers under pressure from escalating costs.

According to the latest price adjustment, gas prices have increased by 5,000 VND/kg, equivalent to an increase of 60,000 VND per 12kg cylinder and 225,000 VND per 45kg cylinder. Photo: Thanh Phuc

Starting from February 1st, the sharp increase in global crude oil prices has pushed domestic gas prices to high levels. Accordingly, gas brands such as EIF, VT, PM, HAS, PV, PET, PHOENIX, Petrolimex… have selling prices ranging from 430,000 to 1,800,000 VND for cylinders weighing from 12 to 45 kg.

Mr. Nguyen Hoang Minh, owner of a gas and kitchen equipment store on Tran Canh Binh Street (Vinh City), said: “From February 1st, retail gas prices increased sharply. Companies have raised prices for 12 kg gas cylinders by 60,000 - 64,000 VND/cylinder (depending on the type). This is equivalent to an increase of about 5,000 VND/kg. Many gas companies have announced new gas prices, with 12 kg gas cylinders costing over 500,000 VND/cylinder.”

Rising gas prices have significantly impacted families who use gas for cooking. (Photo: Thanh Phuc)

According to Mr. Minh, the current increase in gas prices is due to the impact of the global gas market, cold weather in European and American countries leading to increased gas usage for heating and industrial purposes. Furthermore, the prolonged war and the reopening of the Chinese market to tourists after the COVID-19 pandemic have also increased gas demand.

Gas is an essential commodity used daily by most families. Therefore, when gas prices rise, it leads to increased living costs, putting considerable pressure on consumers. “Each 12 kg gas cylinder only lasts my family a little over a month. Previously, a 12 kg Petrolimex gas cylinder cost 430,000 VND, but now it has increased to 493,000 VND.”

Food and beverage businesses are under considerable pressure due to the sharp increase in gas prices. Photo: Thanh Phuc

This means that each month the family has to spend an extra 63,000 VND on cooking fuel costs. Now, all we can do is find ways to cook as economically as possible, because we can't switch to induction cookers due to high installation costs and the recently approved increase in electricity retail prices,” said Ms. Luu Thi Tuyet from Nghi Trung commune (Nghi Loc district).

Rising gas prices are not only putting pressure on households, but also causing difficulties for food businesses. “The cost of food ingredients is increasing as transportation costs rise. Now, gasoline prices have just increased, followed by gas prices, and now, according to information, the government has just approved an increase in retail electricity prices. These escalating prices are making business very difficult.”

Many restaurants have replaced their gas stoves with electric stoves and boilers to save costs. Photo: Thanh Phuc

"On average, my kitchen uses three 45kg industrial gas cylinders per month. Now, after the price adjustment at the beginning of February, each cylinder has increased by nearly 250,000 VND, meaning the gas cost alone has increased by almost 1 million VND per month. Meanwhile, we are currently unable to increase the prices of the dishes we serve to our customers," said Mr. Hoang Hiep, the owner of a restaurant on Le Mao Extended Street (Vinh Tan Ward, Vinh City).

According to Mr. Hiep, with the high price of gas, he only uses a gas stove for certain stages of food preparation that require rapid heating, while the rest has been replaced with electric pots and steamers. However, the increase in gas prices, and the upcoming increase in electricity prices, will force him to switch to cooking with a charcoal stove and consider raising the prices of the dishes at his restaurant.

Gas distributors are also facing difficulties as consumption has decreased due to people switching to electric and induction stoves. Photo: Thanh Phuc

Not only does the high price of gas add a burden to consumers, but it also significantly impacts businesses selling this product. Many gas distributors report a sharp decrease in gas consumption of 10-20% last week compared to previous weeks. This is because the rising price has led many families to switch to electric or charcoal stoves to save costs.

It is evident that the increase in gas prices, along with gasoline and diesel prices, poses a significant obstacle to production, business activities, and people's daily lives. Experts predict that this upward trend may continue in the near future. Therefore, people need to find appropriate ways to cope, and relevant authorities need to implement policies to stabilize prices and reduce the burden on consumers.

Many food and beverage businesses are considering raising prices. Photo: Thanh Phuc