Domestic gas prices
According to records in the afternoon of April 13, domestic retail gas prices continued to maintain a high level after the adjustment increase from the beginning of April, although some slight fluctuations appeared in each region.
In the Northern region, the price of a 12kg gas cylinder in Hanoi is at 629,208 VND, while a 48kg cylinder holds at 2,516,832 VND. In Hai Phong, the price is still higher, with a 12kg cylinder about 638,928 VND and a 48kg cylinder reaching 2,540,160 VND.
In the Central region, gas prices in Da Nang are commonly around 596,000 VND/12kg cylinder. Prices in localities may vary depending on transportation costs and distribution systems.
According to LPG businesses, after the adjustment on April 1, the current gas price level is basically stable but still anchored in the high zone compared to the previous period, reflecting pressure from the developments of the world energy market.
LPG supply tightens, energy costs escalate
According to information from Vietnam Oil and Gas Group (Petrovietnam), the conflict in the Middle East along with the disruption of the Hormuz Strait has caused the global energy market to fluctuate sharply, directly affecting Vietnam's supply.
Currently, about 70% of Vietnam's LPG supply depends on the Middle East region, so transportation disruptions have made the source of goods scarce.
Energy and fuel prices immediately reacted to market fluctuations. Compared to the time before the conflict, Brent oil prices increased about 1.5 times, LPG doubled, while liquefied natural gas (LNG) prices increased 2 to 3 times.
Not only commodity prices increased, sea transportation costs, ship insurance and supply conversion costs from alternative regions such as the US, Australia, and Southeast Asia also increased sharply, leading to an escalation in import costs of energy products.
In addition, increasing demand for stockpiling in major markets such as China and India – countries heavily dependent on Middle Eastern LPG – further tightens supply, pushing market surcharges to high levels.
In Asia, LPG premiums recorded a record increase, 10–15 times higher than before the conflict occurred.
In this context, Petrovietnam and its member units have simultaneously implemented solutions to ensure supply, including strengthening domestic exploitation and diversifying import sources.
Vietnam Gas Corporation (PV GAS) has coordinated with relevant parties to maximize the output of gas brought ashore, adjust the operation of gas processing plants to increase LPG and condensate production. At the same time, businesses proactively balance inventories to ensure continuous supply to the market, prioritizing meeting domestic production and consumption needs.
At the same time, PV GAS promotes the search and import from alternative markets such as the US, Australia, East Asia and Southeast Asia to compensate for the shortage from the Middle East. The enterprise also strengthens the supply of domestic gas products that can replace LPG such as pipeline gas and CNG to industrial customers.
* Note: Retail gas prices are for reference only, may change depending on the region and business; the trend in the coming time depends on world energy prices.
