HCM CITY: The retail price of a 12kg canister of cooking gas in HCM City dropped sharply by VND31,000 (US$1.38) yesterday morning, or VND20,000 ($0.9) lower than the same period last year.
The major gas distributors in the southern region are now selling 12kg cooking gas canisters for VND275,000 ($12.20) to VND280,000 ($12.40) after they announced the price cut on Thursday.
Head of Saigon Petro Company’s Trade Department Tran Van Phuc said the reduction followed the fall in world gas prices by $100 to $367 per tonne for January 2016. Over the last four months, the price of cooking gas kept rising with an average increase of VND13,000 ($0.58) per month. Last year, the price of cooking gas was revised 12 times, including five price hikes.