The price of gas continued to rise with a hike of VND28,000 (US$1.12) for a 12 kg canister of cooking gas with effect from February 1.

Accordingly, retail price for consumers will increase to VND360,000-390,000 per 12kg canister. The price of 30kg and 45kg canisters will increase to VND1.3 million and VND1.45 million, respectively.

Gas traders explained that the latest hike was on account of the $90 per tonne increase in the world gas price this month over the previous month’s level, taking it to $555 per tonne. The price of the domestic gas had to be adjusted in accordance with the market.

With this latest hike in gas price, February becomes the second consecutive month for this trend as January, too, had witnessed a hike of VND21,000 per 12kg canister.

Suppliers and distributors announced the increase in price on January 31. 

The gas prices were maintained at less than VND300,000 per 12kg canister throughout the last year before these were hiked twice in two consecutive months this year. — VNS