Gas retail prices drop

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Cooking gas retail prices dropped VND13,000 (US$0.69) a 12-kilo cylinder Tuesday.

 

The drop was the second price cut on cooking gas this year. The first was in February when price for the 12-kilo cylinder reduced VND4,000 ($0.21).

 

Saigon Petrol is now retailing its cylinders at VND260,000 each, while the Dai Viet Energy Joint Stock Company (Vinagas) is selling them for VND262,000 .

 

Other cooking gas suppliers such as VT Gas and Gia Dinh Gas are setting their new prices between VND262,000-280,000 per cylinder, according to the Vietnam Economic Times (VnEconomy).

 

Gas retail prices have been raised several times since late last year, each time for VND4,000-22,000 on average per 12-kilo cylinder.

 

In late March, the Vietnam Gas Association asked the Ministry of Finance to reduce gas import tariffs from 5 percent to 2 percent, so that firms could reduce their retail prices, the VnEconomy reported Tuesday.

 

But "until now, the association has not received any response from the Finance Ministry," association chairman Nguyen Sy Thang was quoted by the website as saying.

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