Staff from a gas sales agent in HCM City's District 3 delivers gas products to local customers. — VNA/VNS Photo

Domestic gas prices fell by VND20,000 (nearly US$1) per 12kg canister on Thursday after many consecutive months of hiking.

The retail price of some gas brands will not exceed VND403,000 per 12kg canister this month.

The reason is the world gas price delivered under the contract price (CP) in April, which has just been announced, decreased compared to the previous month.

Domestic gas is influenced by the world gas price as up to 60 per cent of domestic gas is imported.

The import contract price in April was pegged at $545 per tonne as of March 31, down $65 per tonne compared to the gas price last month.

This is the first time gas prices have dropped this year. Previously, the price rose three months in a row from the beginning of the year.

The current gas price is still higher than that at the beginning of the year VND30,000 a 12kg canister.

The gas price at this time is still high and is mainly attributed to the increase in world gas prices and rising sea freight costs. — VNS