Gas retailers sell their products at VND384,000 ($18.2) per canister of 12kg in HCM City on August 1.— Photo dantri.com.vn

HA NOI (Biz Hub) — Retail gas price fell by VND12,000 (US$0.6) per 12-kilogram canister on August 1 in HCM City.

On Friday, many gas retailers sold their products at VND384,000 ($18.2) per canister in the city and surrounding areas.

Prices for the 12-kilogram canisters of gas also fell between VND5,000 ($0.24)-VND10,000 ($0.5) each in Ha Noi in the same day.

Do Trung Thanh, deputy head of the Business Department of Saigon Petro, attributed the fall in cooking gas price to the reduced global price, noting that gas is being sold internationally at $790 per tonne, down $40.

Though the international gas price fell $5 per tonne in the market in July, the retail prices of gas in Viet Nam remained unchanged in July. The local retailers said that as the dollar rates in July rose, they had to pay more for the imported cost and could not reduce the retail gas prices.

Thus, apart from the increase of VND8,000 ($0.4) in May and VND5,000($0.24) in June for each 12-kilogram canister, the retail prices of gas fell in the market from January to April. — VNS