Gas prices left the record mark, down 29,000-31,000 VND/12kg bottle

On the afternoon of April 30, many major gas companies announced retail price reductions from tomorrow (1-5) with a popular reduction of 29,000 VND / 12kg bottle, some brands reduced 31,000 VND / 12kg bottle.

According to Vietnam LPG trading joint stock company – PV GAS Southern (PetroVietNam), gas price World imports under contract (CP) in May has just settled at 855 USD/ton, down 95 USD/ton from the previous month.

Therefore, the domestic retail gas price in May was also adjusted down to 2,417 VND/kg, equivalent to 29,000 VND/12kg bottle, nearly 109,000 VND/45 kg bottle compared to April.

Retail price to hand consumers PetroVietNam gas in May was announced at 488,900 VND / 12 kg tank, Saigon Petro gas at 487,000 VND / 12 kg tank.

Gas prices leave record levels but still high

A general gas agent in Thu Duc City (HCMC) said that he had just received a new price notice from the focal companies with a popular reduction of 29,000 VND/12 kg cylinder; Particularly, Pacific Petro and Vimexco reduced by 31,000 VND/bottle of 12kg. Although the gas price has been adjusted down, it is still at a high level, so consumption has decreased.

Thus, after 3 months, gas prices have increased in the first adjustment period of the month, this essential item has turned down, which is good news for housewives who changed gas in May.

Last year, gas prices also increased continuously but much gas company facing business difficulties due to reduced output.

At the 2022 Annual General Meeting of Shareholders of the Vietnam Gas Corporation (PV GAS) which took place recently, the company’s leaders informed that in 2021, the Covid-19 epidemic will develop complicatedly and last for a long time. Gas demand for electricity production and industry decreased significantly.

Specifically, Electricity of Vietnam (EVN) mobilized gas only 69% of the plan, the demand for gas for industrial production decreased by 25%-30% at times.