Gas Price Falls in July
Gas traders in Vietnam announced to reduce the retail price of cooking gas following the global fall.
The global gas price for July delivery dropped US$17 a ton compared with a month earlier to US$585, they said.
This is the first time the price of liquefied petroleum gas (LPG) fall in the latest three months.
A canister containing 12 kg of gas is VND3,000-4,000 per. The popular retail price is standing at VND188,000 a 12-kg gas canister.
Vietnam now has around 100 gas trading companies, including 10 big firms responsible for importing and distributing LPG in the local market.
Currently, foreign and joint venture companies hold over 50 per cent of the market.
Vietnam is estimated to consume nearly one million metric tons annually in coming years. In 2006, the country consumed around 800,000 tons with about 60 per cent being imported. (VnExpress)
Vietnamese
