Gas traders in Vietnam have recently decided to raise the retail prices by between VND3,300 and VND11,000 per cylinder of 12 kilograms in the awake of soaring transport fees, state media reported.
This is the first gas price hike this year after two recent slight falls in December 2007, the traders said.
From January 1, a 12-kg canister was escalated to between VND251,000 and VND271,000 depending on different traders. The price has recently been cut by by VND5,000-VND8,000 per 12-kg cylinder.
V Gas applied the biggest increase of VND11,000 per 12-kg canister; followed by BP with VND10,000; Gia Dinh Gas, Shell Gas, Saigon Petro Gas VND9,000; and Petrolimex VND7,000. Elf Gas raised only VND3,300 per 12-kg cylinder.
Many gas traders stated that the global gas prices have increased remarkably, resulting in the rise in imported gas prices in Vietnam, and the transport fees have also soared in recent time.
Local gas prices will be kept stably by the end of this month, they noted, predicting that the prices may be slightly down in the coming time due to the decrease in the fuel demand in winter.
The current gas price in Vietnam is rocketed by VND100,000 per 12-kg cylinder against the same period last year, experts said.
Vietnam now has around 100 gas trading companies, including 10 bid companies that import and distribute LPG in the domestic market.
Currently, foreign-led joint venture companies hold over 50 per cent of the market. They usually adjust selling price monthly. (Local sources)
Vietnamese
