Gas prices today, natural gas prices in the morning session fell again after yesterday’s increase due to low demand in the market.
World gas price today
Gas price today (October 7th) decreased by nearly 1% to USD 5.62/mmBTU for natural gas contract delivered in November 2021 at 10:05 am (Vietnam time).
Natural gas prices fell again due to weak demand (photo: investing.com)
The Nymex quick contract ultimately settled at $5,675, down 63.7 cents from Tuesday’s close. December dropped to $5,803.
Spot gas prices also fell from a weekly high due to unfavorable weather conditions. NGI’s National Avg spot gas prices. dropped 25.5 cents to $5,715.
Inventories as of September 24 are 575 Bcf below year-ago levels and 213 Bcf below the five-year average, but the forecast is for mild weather until at least late October.
A Bloomberg survey turned up results ranging from a build of 101 Bcf to a peak of 114 Bcf. The average of those results was an injection of 105 Bcf.
According to the Energy Information Administration (EIA), inventories increased by 75 Bcf from last year’s figure, with the EIA reporting an additional 88 Bcf in inventory.
Domestic gas prices
On the afternoon of September 30, the Pacific Petroleum Import-Export Trading Joint Stock Company announced that from tomorrow (October 1), the price of gas Pacific Petro, City Petro, Vimexco Gas increased by 42,000 VND/bottle of 12 kg and an increase of 157,500 VND/45 kg bottle. Thus, the retail gas price to consumers is up to 484,000 VND/12kg bottle and 1,813,500 VND/45 kg bottle.
Ho Chi Minh City Petroleum Company Limited (Saigon Petro) also informed that from October 1, gas prices increased by VND 42,000/bottle of 12 kg. Thus, the maximum retail price to consumers is 461,500 VND/bottle of 12kg.
Similarly, Vietnam LPG Trading Joint Stock Company Southern branch announced that the selling price of PetroVIETNAM Gas increased by VND 42,000/bottle of 12 kg and VND 157,500/tank of 45 kg. The retail price to consumers is VND 460,900/bottle of 12 kg and VND 1,728,670/bottle of 45 kg.
According to gas companies, because the world gas price in October announced 797.5 USD/ton, increased by 132.5 USD compared to September, the companies adjusted the increase accordingly.
This is the eighth month in 2021 that gas prices have increased in a row and is the highest increase so far this year.
Mr. Le Quang Tuan, Deputy General Director of Pacific, said that during September, the world gas price did not decrease and this price increase was in the forecast of companies. According to Mr. Tuan, although in October, gas prices increased to a record high, but compared to previous times, it was still low.
For example, the highest increase in gas price to 78,000 VND/12kg bottle was in December 2013, the highest increase in gas price in March 2012 was 52,000 VND in the nearest month in January 2020, the highest increase in gas price was at 48,000 VND/12kg bottle. .
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
Website: http://tginternationaljsc.com
