11:26:23 AM | 31/7/2008
Many gas traders in Vietnam are considering cutting retail price by VND20,000 per 12-kilogram canister in August this year in the wake of recent fall in the global gas price, the Saigon Liberation newspaper reported July 30.
Decreasing global crude oil price has lead to a reduction in the world gas price by US$90 per ton to drop to only US$837 per ton July 29, gas traders said.
If the global gas price stands at the aforementioned rate until August 31 this year, the retail gas price in Vietnam is expected to drop to VND275,000 per 12-kg cylinder from current VND271,000, the trader noted.
In addition, global demand for gas is forecast to tumble next month to pull down the retail price, market watchdogs 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. (Saigon Liberation)
Vietnamese
