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Cooking gas prices drop in Vietnam as global demand eases

By Trung Tin   March 1, 2023 | 10:29 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Cooking gas prices drop in Vietnam as global demand eases
A person carries a 12-kg cooking gas cylinder in Ho Chi Minh City in June 2022. Photo by VnExpress/Quynh Tran
Cooking gas prices have fallen by VND16,000 (68 cents) to VND461,000 for a 12-kg cylinder in Ho Chi Minh City and other southern localities as global prices declined.

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.

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