Gas businesses in HCMC yesterday said by August 1 cooking gas prices will reduce VND 375 per kg (included VAT) to reach at VND 4,500 per 12 kg canister.
Retail gas prices will cost between VND 250,000 and 265,0000 per 12kg canister depending on brandnames. The decline in retail prices followed movements in the world market, where gas prices reduced US$ 15 per ton compared to July to reach at US$ 287.5 per ton.
After reducing retail prices twice in July and August, retail gas prices reduced total of VND 18,500 per 12kg canister.
Domestic gas prices depend on world prices due to domestic supply source only meets 60 percent consumption rate.