Gas prices continue to rise for the third consecutive month.
Many gas companies have simultaneously announced adjustments to retail gas prices, effective from March 1st.
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With the new price adjustment, starting today (March 1st), the retail price of gas will increase by 1,417 VND/kg. This means a 12kg cylinder will increase by 17,000 VND (including VAT). The retail price for consumers will now generally range from 345,000 to 360,000 VND per cylinder.
With large gas cylinders, worryFor cylinders weighing 45 kg or 50 kg, the new prices will be 1.3 million VND/cylinder and 1.45 million VND/cylinder, respectively.
The reason for the gas price increase is explained by the fact that the contract price (CP price) for March delivery was fixed at $505/ton, an increase of $50/ton compared to the CP price for February delivery.
This is the third consecutive month since the beginning of 2019 that gas prices have been adjusted upwards.Previously, the price increase in February was 1,000 VND/kg, just before the Lunar New Year of the Pig 2019, meaning an increase of 12,000 VND per 12kg cylinder compared to the previous month. In January 2019, the price of gas increased by 4,000 VND per 12kg cylinder (approximately 333 VND/kg). Therefore, considering the three price increases from the beginning of the year until now, the price of gas has increased significantly.Up to 33,000 VND per 12kg cylinder.