Gas price today March 31: Increased more than 2% in the first trading session...

World market

Recorded on Oilprice.com at 08:49 on March 31, 2025 (Vietnam time), world natural gas prices reversed and increased sharply by 2.36% (equivalent to an increase of 0.096 USD) to 4,161 USD/mmBTU at the time of survey.

Large-scale LNG projects on the US East Coast and Gulf Coast face significant challenges due to volatile capital costs and uncertain returns.

One of the biggest risks is the unpredictable cost of capital. Import tariffs on steel and specialty materials can be as high as 25-50%, significantly increasing construction costs. In addition, a shortage of skilled labor also pushes up wages and slows progress.

LNG typically takes about five years to complete after the final investment decision (FID), forcing projects to predict profitability beyond 2030. However, global LNG supply and demand remain uncertain. In addition, the US may impose restrictions on LNG exports to protect domestic energy security, especially as associated gas production from oil wells tends to decline rapidly.

LNG from the US East Coast and Gulf Coast faces strong competition from:

Canada: LNG exports to East Asia and development of new facility in British Columbia.
Mexico: Expanding gas imports from the US to export LNG across the Pacific Coast.
Alaska: $44 billion LNG project could be operational by 2045.
Other regions: Guyana, West Africa, the Mediterranean and Australia are all expanding LNG export capacity.

Europe is also looking for alternatives to LNG, including reactivating Russian gas pipelines or developing supplies from the Middle East and Central Asia.

LNG projects in the Gulf and East Coast are at risk from major storms, which could cause prolonged disruptions. In addition, shipping to Asia depends on the Panama Canal, where costs are rising and congestion is increasing. Meanwhile, Canada, Mexico and Alaska have the advantage of closer shipping, which can save significant costs.

While LNG demand is expected to remain strong in the short term, the post-2030 landscape presents challenges for projects on the US East Coast and Gulf Coast. Investors should carefully consider financial risks, global competition, and policy uncertainty before committing long-term capital.

Domestic gas prices

Due to the slight decrease in world gas prices, many businesses adjusted domestic retail gas prices down in March, the second month in 2025 that gas prices decreased. 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, the retail price of Petrolimex gas cylinders (including VAT) in March 2025 in the Hanoi market is 457,400 VND/12kg household cylinder; 1,829,600 VND/48kg industrial cylinder, respectively decreasing by 2,700 VND/12kg cylinder and 10,500 VND/48kg cylinder (including VAT).

Similarly, gas prices of City Petro, Vimexco, Vina Pacific Petro at Pacific Petroleum Trading Joint Stock Company (Gas Pacific Petro) decreased by 167 VND/kg.

Specifically, the 6kg cylinder will be reduced by 1,000 VND/cylinder and the new selling price is 275,500 VND/6kg cylinder; the 12kg cylinder will be reduced by 2,000 VND/cylinder, to 491,500 VND/12kg cylinder; the 45kg cylinder will be reduced by 7,500 VND, to 1,842,000 VND/45kg cylinder; the 50kg cylinder will be reduced by 8,000 VND/cylinder, to 2,046,500 VND/50kg cylinder.

Along with the downward trend, Southern Gas Trading Joint Stock Company (Gas South) announced a reduction in retail gas prices by 167 VND/kg compared to last month, equivalent to a reduction of 2,000 VND/12kg cylinder and 7,500 VND/45kg cylinder.

After adjustment, retail gas prices to consumers fluctuate between VND475,400/12kg cylinder and VND1,784,111/45kg cylinder (including VAT) in the Southeast region. This new price applies to the company's gas brands, including: Gas Dau Khi, VT - Gas, A Gas and JP Gas.

The decrease in domestic retail gas prices is a positive signal for both consumers and businesses. Especially after Tet, when households return to their normal lives and businesses resume operations, the decrease in gas prices will help save on living expenses and production costs.

Source: https://baodaknong.vn/gas-price-hom-nay-31-3-tang-manh-hon-2-phien-giao-dich-dau-tuan-247788.html