World market
Previously, the price of natural gas futures for May 2025 on the New York Stock Exchange only increased slightly by 0.2% to 2.94 USD/mmBTU, approaching the lowest level since November 15, 2024. Overall, natural gas prices fell by 9% for the week, marking the fourth consecutive week of decline and the total decrease in four weeks has reached 28%.
The main reason for the decline in natural gas prices is due to the forecast of mild weather in the US to last until mid-May, limiting the demand for gas for heating and cooling purposes.
At the same time, developments in the global energy market have also had a strong impact on gas prices. Amid escalating US-China trade tensions, China has recently added propylene – a petrochemical product derived from propane – to its retaliatory tariff list. This has caused propane prices in the US to plummet by 15%, leading to a sharp drop in shipping costs.
Propane exports have been a bright spot in U.S. energy trade, thanks to soaring demand from Asia, especially China. U.S. propane exports to China are set to increase by 40% in 2024 alone. But with the new tariffs, that trade flow is at risk of stagnation.
Unlike LNG or crude oil, propane is difficult to replace in the US-China trade relationship. China has a huge petrochemical capacity and is accelerating the transition from fossil fuels to fine chemicals. Meanwhile, the US has few potential alternative markets outside of China, although Canada is being considered as an alternative.
In the short term, U.S. consumers may benefit from a surplus of propane that helps drive down heating costs. But in the longer term, the development underscores the complex intertwining of energy trade and global industrial strategy, which will require major adjustments if trade tensions persist.
Domestic market
Domestic gas prices in April 2025 remain the same as in March because the average world gas price contract in April has no fluctuations.
Specifically, the retail price of Petrolimex gas in the Hanoi market in April remained at VND457,400 for each 12kg household cylinder and VND1,829,600 for each 48kg industrial cylinder, including VAT.
Similarly, according to the announcement from the Southern Gas Trading Joint Stock Company (Gas South), the retail gas prices of the brands Gas Dau Khi, VT-Gas, A Gas, JP Gas, Dak Gas and Dang Phuoc Gas have not changed compared to last month. Consumers in the Eastern and Western regions of the South still buy gas at VND475,400 for each 12kg cylinder and VND1,784,111 for each 45kg cylinder.
A representative of Petrolimex Gas Corporation said that domestic gas prices remain unchanged because the average world gas price contract for April remained at 610 USD/ton, unchanged from March. Therefore, this unit did not adjust retail prices.
Since the beginning of 2025, domestic gas prices have experienced two price reductions and two price stability changes, reflecting a stable trend in the context of little fluctuation in the international market.
Source: https://baodaknong.vn/gas-price-hom-nay-27-4-tiep-tuc-duy-tri-o-muc-thap-250731.html
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