Saigon Petro Company has decided to cut gas prices by VND12,000 (USD0.6) per 12-kilo cylinder beginning today, December 1, one official said.
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| Gas prices cut after four consecutive hikes |
After the price cut, retail gas price will be at VND429,000 (USD20.5) per 12-kilo canister.
This is the first price cut after several consecutive price rises over the past four months.
However, the price cut still is rather modest compared to a combined rise of VND126,000 (USD6) during the four-month period.
Domestic gas prices have been somewhat volatile since early this year. The local market has seen eight price hikes and four price cuts so far this year.
