Gas price reduced as of September 1
As of September 1, gas retail prices in HCM City fell by VND7,000/12kg barrel compared to the current prices, offering the maximum retail price of gas to the city’s consumers at VND 377,000 VND/ 12kg canister.
Explaining the cause of the falling prices, Do Trung Thanh from Saigon Petro said, "The reason is attributable to a reduction of the global gas price by US$25/ton from the price announced by the Government in August this year.”
Earlier retail gas prices also dropped by VND12,000/12kg barrel in August over July.
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Retail gas prices in July remained unchanged compared to those of June though July’s gas imports price reduced US$5/ton from a month earlier.
Domestic gas trading businesses explained that the average VND-USD interbank exchange rate was increased by the State Bank of Vietnam (SBV), thus sending the currency conversion prices and import costs soaring correspondingly. As a result, domestic gas importers could not reduce retail prices.
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