Cooking Gas Price Hike Sets Record
Gas traders in Vietnam have decided to raise the retail price of liquefied petroleum gas (LPG) to a record following the global hike and domestic supply scarcity, local media reported.
From September 25, a 12 kg canister will be sold at between VND202,000 and 210,000, up VND10,000, depending on suppliers. In early September, gas price was discounted up to VND3,000 each 12-kg canister.
The global gas price for current delivery has risen to nearly US$100 per ton, gas traders said.
Moreover, Vietnam’s unique gas processor, Dinh Co in southern Ba Ria - Vung Tau province will be standstill within 20 days for periodical maintenance, narrowing gas supply for local market.
Some gas traders said that they have used up their stored gas.
Vietnam now has around 100 gas trading companies, including 10 big firms responsible for importing and distributing LPG in the local market.
Currently, foreign-led joint venture companies hold over 50 per cent of the market. They usually adjust selling price monthly.
Vietnam is estimated to use up 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. US$1=VND16,164. (Young People, Liberated Saigon)
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