The price of domestic cooking gas will hit a fresh record this year on Thursday with a rise of VND52,000 per 12-kilogram gas cylinder, said many Ho Chi Minh City-based cooking gas wholesalers.
The price hike is due to the rise of import gas price for March which has surged $180 per ton month on month to $1,205 per tons, they said.
Accordingly, the retail price of cooking gas sold by Saigon petro, Gia Dinh Gas, Vinagas, and VT Gas, will range from VND477,000 to VND480,000 per 12-kilogram gas cylinder.
Local cooking gas prices have increased 4 times with a total VND126,000 for 12-kilogram gas cylinder in the first 2 months of this year.
The recent price hikes have dragged consumption down by 20-30 percent year on year, said cooking gas wholesalers. When city dwellers have turned to electric and magnetic cookers as alternatives, people in the countryside have returned to their past habits by using charcoal and firewood.
The Vietnam Gas Association has called on the government and the Ministry of Finance to cut the import tariff slapped on cooking gas from 5 percent to 2 percent.
The HCMC authorities are working on a plan to start to stabilize the cooking gas price.
Early this month, Tuoi Tre found that the local retail price still remains high as more commissions are set aside for retailers although the world cooking gas price is on a downward trend.