Vietnam Gas Prices Likely To Rise 4.5% Soon | StoxPlus

Retail gas prices in Vietnam is likely to rise VND20,000 or 4.5% to VND440,000/12kg canister soon following uptrend of global gas prices, the state-run online newspaper Nguoilaodong reported.

Representative of gas traders in Ho Chi Minh city attributed higher imported gas prices as reason for the possible price hike in local market, citing that import gas prices rose $50/tons to $1000/ton now against prices in early September.

Gas traders also said Dinh Co factory had information of gas suppliers with $20/ton premium (transportation, insurance and profit).

Higher imported prices plus premium would send retail gas prices up VND20,000 or 4.5% to VND440,000/ 12kg canister, gas traders said.

This move will extend total gas price hike to VND123,000/12kg canister or 38.8% in the past 2 months . In early August, gas prices rose VND52,000/12kg canister and on September 1,gas prices rose VND51,000/12kg canister.

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