Gas businesses have simultaneously announced that retail gas prices have fallen sharply from early May.

Specifically, retail gas prices have dropped by VND15,000/6kg cylinder, VND31,000/12kg cylinder, VND32,000/12.5kg cylinder, VND116,000/45kg cylinder, and VND129,000/50kg cylinder. These dropped prices include value added tax (VAT).

The southern branch of the Viet Nam LPG Trading JSC announced its retail gas price is VND488.900/12kg cylinder, a decrease of VND29,000, and VND1,833,375/45kg cylinder, a decline of VND108,765.

The Ho Chi Minh City Petroleum Company Limited (Saigon Petro) said that the selling price of Saigon Petro gas has decreased by 29,000 VND/12kg cylinder, so the maximum retail price is VND487,000 VND/12kg cylinder.

Meanwhile, the retail price of Petrolinex Sai Gon gas has dropped by VND29,000/12kg cylinder.

Gas prices have gone down sharply after three consecutive spikes since the beginning of 2022, contributing to easing consumption pressure for people in the context of escalating commodity prices after Tet.

Reporting by QUYNH TRANG - Translating by M.DUNG