Gas prices increased sharply starting September 1st.
Starting September 1st, many gas distributors have announced significant price increases due to the impact of global gas prices.
Gas prices are expected to increase from September 1st.
It is estimated that the adjusted price for consumers will not exceed 374,000 VND per 12kg cylinder, 1,403,000 VND per 45kg cylinder, and 1,561,000 VND per 50kg cylinder.
Since May 2018, this is the fifth consecutive month that gas prices have accelerated. If we combine the increases from May, June, July, August, and September, the price of gas will rise by an additional 50,000 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 data from the General Statistics Office (Ministry of Planning and Investment), the increase in prices of many consumer products such as gasoline, gas, pork, school supplies, etc., caused the Consumer Price Index (CPI) in August 2018 to rise by 0.45% compared to the previous month, by 3.98% compared to the same period last year, and by 2.59% compared to December of the previous year. On average, for the first eight months of this year, the CPI increased by 3.52% compared to the same period last year.
Ten out of eleven commodity and service groups saw price increases compared to the previous month, with the food and beverage group experiencing the highest increase at 0.87%, mainly due to a 1.12% increase in food items (contributing 0.25% to the overall CPI increase).
Specifically, due to a 3.41% increase in pork prices compared to the previous month, the prices of processed pork products also increased; the price of green vegetables increased by 2.87% due to the impact of storms and floods. The General Statistics Office also forecasts that the CPI in September 2018 will increase slightly, with increases in commodity groups such as education services, pork prices, gas prices, and gasoline prices.
