Gas cylinders being transported to a store on Hue Street, Ha Noi. Domestic gas retail prices continue to drop sharply following a fall on the world market. — VNS Photo Doan Tung

HA NOI — Domestic gas retail prices continued to drop sharply following a fall in the world market.

Saigon Petrols gas prices will be cut by VND24,000 (US$1.09) per 12-kg cannister, said Do Trung Thanh, Deputy Sales Manager of Saigon Petrol Gas.

This was the sharpest cut in gas prices since the beginning of the year, pushing the retail price of cooking gas down to around VND381,000 ($17.4) per 12-kg cannister.

The slump came after the world gas price dropped by $85.2 per tonne against Marchs contract price to $812.5 per tonne, according to Saigon Petro Gas.

Ha Noi Petrolimex Gas also reduced retail prices for a 12-kg canister to VND400,400 ($19.16), said Pham Anh Tu, Deputy Sales Manager of the gas company.

Gas prices have seen four consecutive downward adjustments since the beginning of this year, falling by a total of VND35,000 ($1.67) per 12-kg cannister. — VNS