Gas prices rise following refinery shutdown

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Retail prices for liquefied petroleum gas (LPG) in Vietnam have increased by about 4 percent after the country temporarily halted operation at the Dung Quat during an equipment check.

Ho Chi Minh City-based Saigon Petro said a 12-kilogram cylinder of LPG now costs VND343,000. The company said the shutdown at the country's only oil refinery has led to a supply shortfall.

Do Trung Thanh, sales manager at Saigon Petro, said local distributors have had to import more fuel and, as a result, retail prices have gone up.

State-owned Vietnam Oil & Gas Group, also known as PetroVietnam, halted production at the Dung Quat refinery for an inspection early last week. The shutdown is expected to last up to three weeks.

LPG prices were raised 3 percent earlier this month, to VND330,000 per 12-kilogram cylinder, due to rising world prices.

Saigon Petro said local consumers should expect another hike, in April.

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