Cooking gas price shoots up 4%

Many gas retailers announced a 4.2-4.5 per cent hike in the price of cooking gas last Saturday, saying they have to resort to expensive imported gas since the Dung Quat Oil Refinery has shut down for maintenance.

Following the hike, the price of a 12-kilogram cylinder sold by Sai Gon Petro, Vina Gas, Gia Dinh Gas and others has gone up by VND14,000.

“The two-week closure by the Quang Ngai Province-based refinery means a shortfall of 15,000 to 20,000 tonnes of gas,” Nguyen Hoai Giang, managing director of the Binh Son Refinery Company which manages Dung Quat, said.

However, some retailers have not hiked the price, including Southern Gas Trading Joint Stock Company, which has been little affected by the shortage, according to its managing director, Doan Van Nhuom.

French-owned Elf Gas, a big player in the Vietnamese market, said it would not increase price either until a new contract price is finalised on the international market by month-end. — VNS

Tags: Vietnam gas, Vietnam Gas prices

Posted by VBN on Mar 28 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry