Gas price today March 24, 2025: World increases rapidly

Gas price today March 24, 2025 unexpectedly turned to increase again in the world market, ending a long series of declines. This development may lead to domestic price adjustments in the coming time, posing many unknowns for both consumers and businesses.

World gas price

According to the gas price recorded on the morning of March 24 (Vietnam time), natural gas on the New York Mercantile Exchange (NYMEX) had a slight increase. Specifically, the price of the April 2025 futures contract was recorded at 4.262 USD/mmBTU, an increase of 0.094 USD, equivalent to 2.26% compared to the previous trading session.

This slight recovery took place in the context of the global market still being affected by weather factors and supply-demand prospects in the second quarter of 2025. Although gas inventories in the US and Europe are assessed to be stable, the unusually long winter in some European regions along with the situation of renewable electricity production not meeting expectations has caused gas demand to show signs of increasing again.

Meteorological forecasts from the European Climate Forecast Service show that next week many countries in the Northern European region will continue to experience cold air, causing energy consumption, especially gas for heating, to increase sharply. Meanwhile, the amount of wind and sunshine in wind and solar power production areas has not yet reached optimal levels, affecting the ability to replace traditional energy sources.

In the US, although entering the transitional season, some states still record higher gas consumption compared to the same period last year. This puts psychological pressure on investors, causing gas prices to recover slightly.

Domestic prices remain stable but have the potential to be adjusted

In the Vietnamese market, domestic gas prices on March 24 have remained stable since the beginning of March 2025. Specifically, the retail price of 12kg cylinders of major brands such as Petrolimex Gas, City Petro, VT Gas, Gas South ranges from 457,000 – 491,500 VND/cylinder depending on the type, down about 2,000 – 2,700 VND/cylinder compared to the previous month.

This decrease reflects the downward trend of world gas prices in recent times. However, with world prices just rebounding, many experts warn that domestic gas prices may be adjusted to increase again from the beginning of April if the upward trend of the international market continues.

Forecast of gas price trends in the coming days

According to energy experts, world gas prices may continue to increase slightly in the coming sessions due to the following factors:

The prolonged cold weather in Europe and some states in the US has not reduced the demand for heating.

Although the EU’s gas reserves are stable, they are showing signs of slowing down, especially when summer has not officially begun.

Geopolitical pressure in the Middle East and the Russia-Ukraine conflict may cause unexpected disruptions in global supply.

Meanwhile, domestic gas prices are still mainly affected by the import price of liquefied petroleum gas (LPG) on the world market. Therefore, if international prices continue to increase in the coming days, the possibility of adjusting domestic retail prices in early April is possible.

With the trend of gas prices possibly increasing again, consumers should consider buying gas early in the last week of March to avoid the risk of having to pay higher prices early next month. In particular, businesses, restaurants, hotels, and enterprises that use a lot of gas need to have a reasonable reserve plan to ensure operating costs. In addition, consumers should pay attention to reputable brands, clear origins, and ensure safety when choosing to buy gas, avoiding buying cheap products of unknown origin that pose a risk of fire and explosion.