Vietnam gas prices rise VND25,000/cylinder

The retail prices of domestic gas have increased by VND25,000 per 12 kilo cylinder to VND297,000/cylinder today, the online newspaper VnExpress reported on November 1,

The retail prices of domestic gas have increased by VND25,000 per 12 kilo cylinder to VND297,000/cylinder today, the online newspaper VnExpress reported on November 1,citing Do Trung Thanh, deputy sales manager of Saigon Petrol Gas, local big gas trader, said.

The gas price hike due to the higher prices of the global gas, citing spot gas prices in November rose $92.5 to $785/ton, and higher domestic dollar prices of near VND20,500/USD as well.

The gas price rose for the three straight months from September.

Earlier on October 1, the retail prices of domestic gas also increased by VND15,000 per 12 kilo cylinder.

Vietnam has around 100 gas trading companies, including 10 large firms importing and distributing LPG in the domestic market. Foreign-led joint venture companies own over 50% of the market share and they usually adjust prices monthly. – Stoxplus.com

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