Gasoline traders decide to maintain retail price at Nov level

Although gasoline price under the world contracts in November is reported to increase $5 per tonne, local gasoline traders still decided to maintain the retail price in November in domestic market unchanged from October.
As announced by HCM City Petroleum one-member Ltd Co (Saigon Petro), the gasoline price under the world contracts is reported to increase $5 per tonne to $780 per tonne, its gasoline retail price in local market in November will be unchanged from October, Do Trung Thanh, deputy head of Gas Sale Department of Saigon Petro, said.

Le Phuc Dai, general director of Dai Viet Energy Joint Stock Co (Vinagas) said the surcharge in November will be retained from October. At the same time, the depreciation of Vietnamese dong has increased gas costs in November by 4,000-5,000 dong per 12kg cylinder, Dai said.

Similarly, Nguyen Quang Trung, general director of MT Gas Co, said that the global gas price increased $5 per tonne, but it excluded insurance fee, transport fee, import tax and VAT. Meanwhile, the separate surcharge in October increased $10 per tonne. Therefore, the gas price in October decreased only 10,000 dong per 12kg cylinder instead of 14,000 dong per 12kg cylinder.

Thus, the gas retail price of local petrol dealers to the customers would be around 344,000-346,000 dong per 12kg cylinder. – Source: Vietbiz24.com

Tags: Vietnam fuel, Vietnam fuel prices

Posted by VBN on Nov 3 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