3:20:01 PM | 1/10/2008
Vietnamese gas traders are mulling over slashing domestic retail price by between VND4,000 and VND5,000 per 12-kilogram canister in Oct this year due to global market fall, massive stockpile and low consumption, the Laborer Online daily reported.
If the price cut is applied, a 12-kg cylinder will be offered at around VND250,000 from early next month, gas trader said.
The world gas price currently falls by US$25 per ton to US$795 per ton while gas consumption of domestic industrial sector drops between 40 per cent and 50 per cent, of trading and service sector between 25 per cent and 30 per cent, and of households between 10 per cent and 15 per cent.
In addition, Vietnam’s sole gas processing plant Dinh Co, which meet 40 per cent of the domestic gas market, still ensures sufficient supply its periodical maintenance by operating a 40,000-ton gas freeze store.
Mr. Lai Duc Nam, director of Petronas Vietnam Limited Company, said that stockpile in Sept accounts for 20 per cent of companies’ total gas volume, which means that a large-scale firm now has 1,000-1,500 tons of gas in stock and a small-sized company 500-1,000 tons.
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. (Laborer Online)
Vietnamese
