This price increase came as a surprise because just over 10 days earlier, the gas market had already seen an average rise of 7,000 VND per cylinder. Therefore, when gas companies simultaneously announced a new hike of up to 14,000 VND per cylinder on November 1, even retailers expressed discontent.
Mr. Linh, owner of Gia Thinh Gas store, complained that for individual consumers who only replace their gas cylinders every few months, the impact is not too significant or upsetting. However, for restaurants or industrial sites that rely heavily on gas, this is a serious issue.
“This kind of price hike is too high for them. Although their consumption volume doesn’t decrease because they have no choice but to use gas, it creates frustration and undermines trust in retailers like us,” Mr. Linh said.
In fact, during the first days when the news had not spread, some customers accused his shop of deliberately overcharging—forcing him to spend time explaining.
Sharing the same concern, Ms. Hang, owner of Quang Vinh Gas store on Lo Duc Street, said that when she initially informed regular customers of the price increase, she also faced complaints. However, they eventually had to accept it, as there were no other options.
According to her, gas prices this year have been erratic. Unlike previous years when increases followed global gas or fuel prices, this year domestic prices have sometimes gone up even when global prices fell.
Speaking to VietNamNet, retail shop owners said that given the current situation, gas prices could rise even further.
This aligns with what suppliers indicated. Although the latest hike was already significant, businesses said it was only a cautious move, as suppliers were still “watching each other” to maintain competitiveness.
That is why, despite a simultaneous increase, Shell gas was sold at 270,000 VND per cylinder while Gia Dinh Gas sold at only 240,000 VND.
Other companies like Tatoll, Petrolimex, or Van Loc also offered different prices depending on brand reputation. However, once old stock purchased at lower prices runs out, gas prices will inevitably climb higher.
For individual consumers, gas price increases are always a concern, but in reality, the financial impact is not very large.
Nevertheless, for some low-income households, alternatives like “returning to charcoal stoves” have been considered. A simpler and more popular solution has been switching to cheaper gas brands. Ms. Hang observed that many customers have moved from Shell Gas, Tatoll, or Petrolimex to more affordable brands such as Gia Dinh Gas or Van Loc Gas.
Another noteworthy point is that because gas companies set different prices and applied varying increases, some dealers have taken advantage of the situation to manipulate prices.
(Vietnamnet 4/11)
