Gas Prices on the Rise: August Update
On July 31st, gas companies announced a price increase effective August 1st. According to the Southern Gas Association, this is due to a rise in international gas prices, with the contract price for August set at 580 USD/ton, a 7.5 USD/ton increase from July.
As a result, domestic retail prices have increased by 208 – 250 VND/kg, equivalent to a rise of 2,500 – 3,000 VND per 12 kg cylinder, and 9,000 – 11,000 VND per 45 kg cylinder.
PETROVIETNAM GAS, a leading brand, has increased prices by 3,000 VND per 12 kg cylinder and 11,250 VND per 45 kg cylinder, with maximum retail prices now approximately 454,000 VND and 1.7 million VND respectively.
Gas SP, another major player, has raised prices by 2,500 VND per 12 kg cylinder, with a maximum retail price of 429,500 VND.
Gas prices for August see a slight increase after a period of stability. – Photo: AN NA
Mr. Cao Minh Hai, Executive Director of Ban Mai Vietnam Co., Ltd., shared that gas consumption has been stable due to previous price reductions and freezes. Specifically, in April and May, prices dropped by 5,000 VND per 12 kg cylinder each month, followed by a 3,000 VND reduction in June, and no change in July. This allowed gas companies to offer attractive deals and promotions.
As of August, the price of a 12 kg cylinder with a gray shell is 430,000 VND, while cylinders with colored shells (red, yellow, pink, etc.) are priced at 450,000 VND after discounts.
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