Cooking gas prices drop in Vietnam as global demand eases
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Cooking gas prices have fallen by VND16,000 (68 cents) to VND461,000 for a 12-kg cylinder in Ho Chi Minh City and other southern localities as global prices declined.
Saigon Petro Co. announced the cut Wednesday after global suppliers lowered average prices by $60 to $730 per ton for March.
The price of a 12-kg cylinder had shot up by VND62,000 in February when fuel demand spiked in many Northeast Asian and European countries due to cold weather, causing global prices to rise, the company said.
This month, with warmer weather, gas demand for and prices are down.
In April 2022 the price of a cylinder exceeded VND500,000 for the first time.
Retail prices track global developments since domestic supply only meets 60% of demand.
Questions & Answers
Q.What is the new price for a 12-kg cooking gas cylinder in Ho Chi Minh City?
What is the new price for a 12-kg cooking gas cylinder in Ho Chi Minh City?
The new price for a 12-kg cooking gas cylinder in Ho Chi Minh City and other southern localities is VND461,000. This follows a drop of VND16,000 announced by Saigon Petro Co.
Q.Why did cooking gas prices decrease this month?
Why did cooking gas prices decrease this month?
Cooking gas prices decreased because global suppliers lowered average prices by $60 to $730 per ton for March. This was due to warmer weather and easing gas demand after a spike in February.
Q.What caused the significant price increase in February?
What caused the significant price increase in February?
The price increase in February was caused by a spike in fuel demand in Northeast Asian and European countries due to cold weather. This led to global prices rising, pushing up cylinder costs by VND62,000.
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