Vietnam gas prices to rise VND18,000/cylinder

The retail prices of domestic gas will increase by VND18,000 per 12 kilo cylinder to VND316,000/cylinder at the beginning of December

The retail prices of domestic gas will increase by VND18,000 per 12 kilo cylinder to VND316,000/cylinder at the beginning of December if the world prices of gas continue to remain the current high price level, the online newspaper Nguoilaodong reported on November 25, citing local gas traders.

The global gas, citing spot gas prices in November rose $70 to $857/ton, and domestic dollar prices stood at around VND21,200 in the free market.

Gas prices rose for the four straight months from September.

Earlier on November 1, the retail prices of domestic gas also increased by VND25,000 per 12 kilo cylinder to VND297,000/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

Tags: Vietnam Gas prices