Gas prices drop from July 1

From July 1, many gas businesses will reduce the price by 14,000 VND/cylinder to 255,000 - 270,000 VND/12 kg cylinder.

Key gas distribution and trading units in Ho Chi Minh City and southern provinces and cities have announced that gas prices will decrease from July 1.

Gas prices will decrease from July 1

Specifically, Saigon Petro Company announced that from July 1, the retail price of Saigon Petro gas will decrease by 1,167 VND/kg, equivalent to 14,000 VND/12 kg cylinder, the maximum retail price to consumers is 258,000 VND/12 kg cylinder.

Other companies such as Gas Pacific Petro, City Petro, Elf gas also offered a reduction of 1,167 VND/kg, equivalent to 14,000 VND/12 kg cylinder. The retail price to consumers does not exceed 266,000 VND/12 kg cylinder.

Explaining the reason for the gas price decrease, a representative of the Ho Chi Minh City Petroleum Company (Saigon Petro) said that because the average world gas price in July 2016 was just announced at 302.5 USD/ton, a decrease of 45 USD/ton compared to June 2016, the domestic gas price was adjusted down accordingly, to ensure compliance with market rules and consumer rights.

In fact, in the world market, the Saudi Arabian Oil Company has just closed the contract price (CP price) for July delivery at 302.5 USD/ton, down 45 USD/ton compared to the closing price in June. This is the reason why the domestic retail price has been adjusted down by 1,167 VND/kg./.

According to VOV