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Economy News
Cooking gas prices climb again
HA NOI - (VNS) Cooking gas prices spiked by VND16,000 (0.77 US cent) to an average price of VND434,000 (US$21) per 12kg canister as of today, gas importer Sai Gon Petrol deputy sales manager Do Trung Thanh told news website
Workers fill gas cylinders at Viet Nam LPG Co Ltd. Cooking gas yesterday rose to $21 per 12kg canister, an increase of 4 per cent against last month. — VNA/VNS Photo Ha Thai

The new price is nearly 4 per cent higher than last month.

He said gas importers adjusted the gas price due to the high world gas price which this month hit $995 per tonne, a $45 increase against the previous month.

He added that, during the last three months the gas price has increased by VND119,000 ($5.6) per 12kg canister.

"Up to now, we have seen as much as 38 per cent growth in gas price, compared to the third quarter," added Thanh.

However, in Ha Noi, the price of gas in some districts still remains at VND418,000 ($20).

Nguyen Huy Hung, a gas retailer in Long Bien District, said he would increase the gas price as soon as his current gas stocks sold out.

Huyen Trang, a housewife in Quan Thanh Street, said she had to call at least three or four gas retail shops to check prices.

Trang said: "Gas shops continue increasing gas price for different reasons. So I have to check the gas prices carefully to feel assured I'm getting a fair deal."

Nguyen Anh Tuan, deputy head of the Price Management Department of the Ministry of Finance, said his department knew the information about the increase in gas price at gas shops.

However, his department has not yet received new gas price registrations from key gas importers.

Tuan said the department would conduct inspections on gas retail prices as soon as possible.

According to the department, the country's import of liquefied petroleum gas (LPG) accounted for between 30-40 per cent of the local demand.

This has had a great influence on domestic gas prices as the world gas price fluctuates. Meanwhile, the global crude oil price has increased rapidly due to the high demand for LPG in many countries as they seek to stockpile ahead of the winter. — VNS

Updated October, 02 2012 09:43:00

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