Vietnam gas prices fall vnd10,000/ 12kg canister from sept 29

Gas prices in Vietnam fell by VND10,000 to VND346,000 per 12-kg cylinder from September 29 following suit lower world prices.

The gas price for October delivery on the global market has dropped $52.5/ton from September to $775/ton winter, the local newspaper Sai Gon Tiep Thi quoted Do Trung Thanh, deputy head of Sai Gon Petro as saying.

At the imported price of $775/ton of gas, local gas prices should be cut by VND14,000 a 12kg canister but import fees rose by $15 to $85/ton limited the cut-back to only VND10,000” Thanh shared.

Other gas sellers including Vinagas, Total gas, Thu Duc fas said they will adjust the price in November 1 as usual.

This is a second consecutive downward adjustment of gas price in just September. Earlier this month, gas price was cut back by VND9,000 to VND356,000 per 12-kg cylinder. However, the gas prices were also raised 8 times YTD.

Vietnam is estimated to have spent $571 million on importing 620,000 tons of liquefied petroleum gas (LPG) in the first nine months of this year, increasing 62.4% from a year earlier in value and 28.5% in volume, GSO data showed.

Source Scarlet D./ Analyst / StoxPlus

Tags: Vietnam Gas prices

Posted by VBN on Sep 29 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