After a startling price hike in December, gas price was reduced by VND 43,000 (USD2.03) per 12-kilo canister beginning from January 1.
Gas prices fall sharply
Do Trung Thanh, deputy head of Saigon Petro’s Business Department, said after the price fall, a 12-kilo cooking gas canister will cost approximately VND443,000 (USD21).
Gas traders attribute the price decrease to the fall in prices in the world market for January, to around USD1,015 per tonne, USD147.5 per tonne down from the month before.
In December, domestic gas prices increased by between VND70,000 and VND80,000 (USD3.31 to USD3.78) per 12-kilo canister, due to the sharp price increases in the world market.
That was considered by many the largest price hike in 2013.