|Saigon Petro’s employee moving canisters inside a retail gas distribution store. The company along with other gas suppliers announced a drop of $0.1 in their retail cooking gas price from December 1, 2016 in HCM City and its neighbouring provinces — Photo nld.com.vn|Viet Nam News
HÀ NỘI — Cooking gas price for HCM City and other southern provinces will drop by VNĐ2,500 (US$0.1) per 12kg canister in December compared with the previous month.
Starting December 1, retail price for cooking gas from household names such as Vietnam Oil and Gas Group, Vietnam Gas Co Ltd, Vietnam National Petroleum Group and HCM City Oil & Gas Company (Saigon Petro Co Ltd) will fluctuate from VNĐ291,000 ($12.8) to VNĐ300,500 ($13.2) per 12kg canister.
Trần Văn Phúc, Saigon Petro’s business manager, explained that the drop in December gas price from November was a result of a drop of $15 per tonne in the December world gas price against last month, which is currently at $400 per tonne.
The recent increase in currency exchange rate from VNĐ22,350 per $1 to VNĐ22.730 per $1 also contributed to the downward shift in domestic gas price.
Although domestic gas production currently accounts for more than 40 per cent of the market supply, the retail price for cooking gas is still based on imported gas price post tax, which would hence be affected by the exchange rate. Vietnamese gas companies had to, therefore, adjust accordingly in HCM City and its neighbouring southern provinces. — VNS