Today's gas price recorded a slight increase of 0.51% in the world market to 4,173 USD/mmBTU.
World market
Recorded on Oilprice.com at 8:00 a.m. on February 21, 2025 (Vietnam time), world natural gas prices increased by 0.51% (equivalent to 0.021 USD) to 4,173 USD/mmBTU.
Natural gas was in the spotlight as it closed up nearly 7% at $4.28 per million British thermal units (MMBtu) - its highest since January 2023 as a sweeping Arctic blast boosted heating demand and threatened supply with the risk of a production freeze.
According to Maxar’s latest forecast models, colder temperatures are expected to grip the central and eastern United States through early March. Natural gas demand has skyrocketed, with current consumption at 122.9 Bcf/d, up 21% year-over-year.
On the supply side, U.S. dry natural gas production was 106.1 Bcf/d, slightly above last year’s level but still vulnerable to severe weather disruptions. Gas storage inventories fell by 100 Bcf in the week ending February 7, more than the expected 91 Bcf draw, according to the latest report from the U.S. Energy Information Administration (EIA). U.S. natural gas inventories remain 2.8% below the five-year seasonal average, adding to the tightness of the market.
Domestic gas prices
Due to the slight increase in world gas prices, many businesses adjusted domestic retail gas prices up in February, the first month in 2025 that gas prices increased. In January 2025, gas prices decreased by VND3,500/12kg, due to the world gas price decreasing by USD12.5/ton compared to December 2024.
Specifically, in February, Southern Gas Trading Joint Stock Company (Gas South) increased retail gas prices for the Company's brands, including: Gas Dau Khi, VT-Gas, A Gas, Dak Gas, JP Gas and Dang Phuoc Gas.
Accordingly, the gas price increased by VND250/kg compared to the previous month, equivalent to an increase of VND3,000/12kg cylinder and VND11,250/45kg cylinder. After adjustment, the retail gas price to consumers is equivalent to VND477,400/12kg cylinder and VND1,791,611/45kg cylinder (including VAT) applicable to the Eastern and Western regions of the South.
However, the retail price of Petrolimex gas cylinders in the Hanoi market remains the same. Petrolimex Gas Corporation said that the retail price of Petrolimex gas cylinders (including VAT) in February 2025 in the Hanoi market is 460,100 VND/12 kg household cylinder; 1,840,100 VND/48 kg industrial cylinder, unchanged compared to the selling price last January.
According to Petrolimex Gas Corporation, although the average world gas price contract in February was at 630 USD/ton, an increase of 10 USD/ton compared to January, due to fluctuations in the USD exchange rate, Petrolimex Gas Corporation did not make any price adjustments.
Source: https://baodaknong.vn/gas-price-hom-nay-21-2-tiep-da-tang-243448.html
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