Retail gas prices in Vietnam, after dropping for two consecutive months, have bounced back this month following an increase in the global market. Accordingly, the August retail prices of Petrolimex gas (including VAT) in the Hanoi market are VND380,160 (US$16.05) per 12 kg household cylinder and VND1,520,640 per 48 kg industrial cylinder. These represent increases of VND26,360 and 1VND105,640, respectively. Nghiem Xuan Cuong, head of the Commercial and Civil Gas Sales Department under the Petrolimex Gas JSC, attributed the rise to the average world gas price contract for August being set at US$465 per tonne, up by US$77.5 per tonne compared to July. Since the beginning of this year, domestic gas prices have decreased five times in January, March, April, June, and July and gone up three times in February, May, and August.

Source: VietNamNet News August 01, 2023 20:04 UTC