Cooking gas prices drop in Vietnam as global demand eases

Saigon Petro Co. announced the cut Wednesday after global suppliers brought down average prices by $60 to $730 per ton for March.

The price of a 12-kg cylinder had shot up by VND62,000 in February when fuel demand spiked in many Northeast Asian and European countries due to cold weather, causing global prices to rise, the company said.

This month, with the weather turning warmer, gas demand for and prices are down.

In April 2022 the price of a cylinder exceeded VND500,000 for the first time.

Retail prices track global developments since domestic supply only meets 60% of demand.