Gas prices have increased by nearly 20,000 VND per 12 kg cylinder.

From November 1st, each 12kg retail gas cylinder in Ho Chi Minh City will cost 293,500 VND, an increase of 19,000 VND per cylinder compared to the previous month, marking the third consecutive month of price increases for this fuel.

Illustrative image

Specifically, consumers will have to pay an additional 1,583 VND per kilogram of gas compared to the previous month, including value-added tax (VAT). The reason for the increase in gas prices in November, according to gas companies, is that global suppliers announced a fuel price of 415 USD per ton, an increase of 60 USD per ton compared to the previous month.

Over the past three months, from September 1st to November 1st, gas prices have increased sharply by 34,000 VND per kilogram. In October 2016, gas prices in Ho Chi Minh City increased by 15,000 VND per 12 kg cylinder. Currently, domestic gas prices depend on global developments because domestic supply only accounts for about 60% of consumption.

According to VNE