Vietnam Gas Traders Continue Raising Retail Prices
Vietnam gas traders have decided to raise retail prices by between VND14,000 and VND15,000/12-kg cylinder from today [October 1] in line with the price hike in the world market.
This is the third increase in the domestic market after four consecutive price falls, but the fifth of its kind since the beginning of this year, market watchdogs said.
As a result, a 12-kg canister with trademarks of SaiGon Petro, Vinagas, Gia Dinh Gas, VT Gas, Thai Duong gas is sold at VND272,000, the Tuoi tre newspaper reported Friday.
The global gas price for October delivery is up $52.5/ton to over $690/ton, driving up the domestic prices, plus a rise in the forex rate, said Do Trung Thanh, deputy head of Saigon Petro’s Marketing Department.
Gas prices of the Dinh Co gas processing plant increase by $1.5/ton and gas supply by the first national oil refinery Dung Quat is down 40%, forcing traders to import more to feed domestic demand.
Recently, state media reported that over 20,000 tons of imported liquefied petroleum gas (LPG) were sealed off by customs forces at Vietnamese ports for not having quality certificate in line with the Ministry of Science and Technology’s recently-issued circular.
The Vietnam Gas Association said thousands tons of gas are on the way to be imported into the nation as domestic plants’ output is falling, forecasting a possible gas scarcity may happen in the nation soon if no solutions are drawn out for the stuck goods. (Youth)
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