On October 31, several companies in Vietnam announced changes to their retail gas prices from November 1. Long Yin Energy said prices for the Gas City Petro and Vina Pacific Petro brands would rise by 833 VND per kilogram, including VAT.
The increase is 5,000 VND for a 6kg cylinder, 10,000 VND for a 12kg cylinder, 37,500 VND for a 45kg cylinder and 42,000 VND for a 50kg cylinder. After the adjustment, retail prices will not exceed 304,500 VND for a 6kg cylinder, 609,000 VND for a 12kg cylinder, 2.283 million VND for a 45kg cylinder and 2.537 million VND for a 50kg cylinder.
This is not the first gas price increase in recent months. From October 1, the company had already raised prices for the Gas City Petro and Vina Pacific Petro brands by another 1,667 VND per kilogram, including VAT.
That increase amounted to 10,000 VND for a 6kg cylinder, 20,000 VND for a 12kg cylinder, 75,000 VND for a 45kg cylinder and 83,000 VND for a 50kg cylinder. After the two consecutive adjustments in October and November, gas from these brands had risen by a total of 30,000 VND for a 12kg cylinder and 112,500 VND for a 45kg cylinder.
A company representative said domestic gas prices rose in November because the global November contract price for LPG, liquefied petroleum gas used widely in households and production, increased by 45 USD per tonne from the previous month to 750 USD per tonne.
At the same time, Vietnam Liquefied Gas Company, or VT Gas, announced a retail price increase from November 1 of 833 VND per kilogram, including VAT. The increase is 10,000 VND for a 12kg cylinder and 37,485 VND for a 45kg cylinder compared with the last day of October.
Gas South miền Tây made a larger adjustment, raising its price by 1,157 VND per kilogram before VAT. After tax, the price rose by 15,000 VND for a 12kg cylinder and 56,250 VND for a 45kg cylinder compared with the end of October. The company will apply the new prices from November 1 until further notice.
Domestic LPG production currently meets about 35–40% of market demand. Most of it comes from the Dung Quat and Nghi Son refineries and PV GAS processing facilities, including Dinh Co and Ca Mau. The remaining 60–65% of demand is met by imports, with about 70% of imported LPG originating in the Middle East.
The high import share leaves Vietnam’s LPG market exposed to international supply and price changes. Conflicts or tensions along strategic transport routes such as the Strait of Hormuz can disrupt supplies, affecting LPG prices, import premiums and shipping costs.
Sources: Dân Trí
