In notices sent to agents, several companies, including VT Gas, Saigon Petro, and Gia Dinh Gas, stated that retail prices had increased by more than VND7,000 per kilogram, VAT included.
Compared to previous levels, the price increased by approximately VND95,000 a 12 kg cylinder, by around VND356,000 a 45 kg cylinder, and by nearly VND395,000 a 50 kg cylinder. This is considered one of the sharpest increases in the gas market in recent times.
According to businesses, the primary reason is a significant rise in global gas prices. Specifically, the April contract price was set at US$775 per ton, up by US$232.5 per ton from the previous month.
Companies noted that domestic gas prices depend heavily on global LPG prices, as most supply is imported. When contract prices rise, along with exchange rate fluctuations and transportation costs, retail prices in the domestic market typically need to be adjusted accordingly to ensure stable supply.
