Vietnam: Gas Price to Fall by VND12,000/12-kg Canister Next Month
Some gas traders in Vietnam said that they has intention to cut retail prices by between VND10,000 (60.6 U.S. cents) and VND12,000 (72.7 U.S. cents) per 12-kg cylinder next month due to the falling price in the world market.
If the price reduction is applied, this is the sixth cut so far this year, said the traders, adding that the global gas price has decreased by US$50 per ton to US$830 per ton.
With the planned cut, a 12-kilogram cylinder will be priced at between VND254,000 and VND256,000 from September 1.
Vietnam now has around 100 gas trading companies, including 10 big 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. (Laborer Online)
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