Vietnam gas prices to be adjusted down vnd16,000/12- kg canister in June

Gas traders in Vietnam are considering lowering the domestic retail prices by between VND15,000 and VND16,000 per 12-kg cylinder in June to keep customers.

The proposal came after the local demand in May fell by over 30% from April and after gas price on the global market dropped $72/ ton this month to $900/ton.

Analysts forecast the world gas price is in the down trend in the upcoming time on abundant supply.

Vietnamese gas traders last cut domestic retail prices by VND6,000 per 12-kg cylinder on May 20.

Between Jan and May, Vietnam is estimated to have spent $250 million on importing 262,000 tons of liquefied petroleum gas (LPG), rising 27.2% and 3.7% from a year earlier, respectively. – Stoxplus.com

Tags: Vietnam Gas prices

Posted by VBN on May 1 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