This morning, gas prices were lowered by VND13,000 (US$0.7) for each 12 kg cylinder from last month, said gas trading companies.
This reduced rate already includes the value-added tax. Retail prices for each 12 kg gasholder is VND262,000 ($13,8), said a representative of Saigon Petrol Gas Company.
Vinagas also decided to reduce gas prices. According to a representative of the Dai Viet energy JSC (Vinagas), the reduction in retail price is due to a decrease in global gas prices, which are down $670 per ton in June.
Le Phuc Dai General Director of Vinagas said that the volume of gas sold in April and May decreased 20 percent compared to the previous period.
Reasons for the decreased consumption due are simple. Gas prices increased sharply over the past two months, to VND275,000 ($14.5) per 12 kg gasholder. Therefore, consumers had to curb their gas usage, said Dai.
Indeed, retail turnover from other suppliers such as BP gas, VT gas, and Gia Dinh also decreased due to above reason.
