Gas price continued its rising trend with an increase of VND19,000 (US$0.85) per 12kg cooking gas canister as of November 1, 2016. — Photo phapluatplus.vn

HA NOI (Biz Hub) — Gas price continued its rising trend with an increase of VND19,000 (US$0.85) per 12kg cooking gas canister as of November 1, 2016.

Accordingly, retail price for consumers in the neighbourhoods of HCM City will increase. For example, SP Gas price from Saigon Petro Co Ltd (Saigon Petro) will increase to VND293,500 ($13.13) per 12kg canister.

Tran Van Phuc, business manager of Saigon Petro, explained the rise in November gas price was due to the recently announced increase in world gas price of $60 per tonne, making it a total of $415 per tonne. This hike in world price caused the price of domestic gas to be adjusted in accordance with the market.

This rise in November is the second continuous significant monthly rise in gas price, following the October hike of VND15,000 ($0.67) per 12kg canister.

Suppliers and distributors in HCM City and other southern cities and provinces announced the rise on October 31. — VNS