Petrol prices to stable, gas prices to rise in May

The domestic retail prices of petrol will be kept stable in May while gas prices are likely to increase due to higher world prices, the online newspaper SGTT reported on April 28,citing the Price Management Deparment.

Vietnam is estimated to produce 1.68 million tons of petrol and gas in the first four months of this year, equal to 36.79% of the plan’s year.

Earlier, on April 27, the Ministry of Finance also denied the rumor on petrol prices hike as the world prices of oil continued to rise to the high level of around $112/barrel.

The domestic petrol prices have increased by nearly 35% from the end of February, pressuring on local consumers’ psychology.

Meanwhile, the department also forecast that domestic gas prices are likely to rise in the coming time as the prices of Liquefied petroleum gas(LPG) rose by $50/ton to $890/ton. – Stoxplus.com

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Apr 30 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