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Cooking gas prices pick up

Oct 2nd at 15:25
02-10-2019 15:25:24+07:00

Cooking gas prices pick up

 After a three-month decline, cooking gas prices have edged up by VND24,000 per 12-kilogram cylinder due to the global shortage following the recent drone attacks on Saudi Aramco’s oil facilities.

With the price spike, starting today, October 1, a 12-kilogram gas cylinder costs between VND315,000 and VND340,000. Meanwhile, 45-kilogram and 50-kilogram cylinders sell for VND1.21 million and VND1.35 million each, respectively.

Cooking gas trading firms, including Saigon Petro and Pacific Petro, attributed the price hike to a rise in the contracted price for delivery in October, set by the Saudi Aramco oil facility, of US$72.5 per ton versus the price last month, reaching US$427.5 per ton.

Pacific Petro Sales Manager Le Quang Tuan told the Saigon Times that the spike was the highest recorded since early 2019, driving up the local cooking gas retail price.

Since the beginning of the year, the local retail price has inched up by VND62,000 per 12-kilogram cylinder against the price in late 2018.

Also, Tuan said that the hike has prevented many firms from replenishing their inventories.

saigontimes

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