As of 2:00 p.m. today (October 5), the retail price of Petrolimex gas cylinders in the Hanoi market decreased by 4%, down to VND390,000/civil cylinder of 12 kg and 13 kg. This new price saves 19,600 VND/tael compared to previous days.
Meanwhile, the price of Hanoi Petro gas decreased by 7%, selling it on the market for 350,000 VND/civilkg. Compared to the old price of 380,100 VND/bunch, the new price threshold saves more than 30,000 VND/bunch.
For the 11kg fireproof composite gas cylinder, often used for households or small businesses, the price has also decreased by 4%, down to VND 410,000/plug, saving VND 15,000.
The price of Petro Hong Ha Gas cylinder with a capacity of 12 kg of gas is currently listed at 350,000 VND/ cylinder. Compared to the old price of 387,100 VND/bunch, the new price has decreased by 37,100 VND, down 9%.
In addition, a 12-kg Siam van gas tank was launched on the market at VND410,000/bunch, down VND15,000 compared to the old price.
A representative of Petrolimex Gas Corporation said that domestic gas prices began to decrease from the beginning of October because the average world gas price contract in October was at 485 USD/ton, down 20 USD/ton compared to September, so the domestic market adjusted accordingly.
World gas prices are calculated according to the CP gas reference price (Contract Price), announced by major suppliers such as Saudi Aramco to evaluate liquefied petroleum gas (LPG) on the international market.
World gas prices are often determined based on many factors, including crude oil prices, international market fluctuations, LPG supply and demand, transportation costs and other factors related to the LPG industry.
In the domestic market, LPG prices are often determined based on shared prices along with other factors such as taxes, shipping fees, management costs and profits of distributors.
