Oil firms raise gas prices from May 1

Friday, May 02, 2014 14:05

A worker of a gas company checks gas canisters. — File Photo

HA NOI (Biz Hub) — The retail gas prices have been raised by VND3,300 to VND8,000, or between US$0.15 and $0.38, per 12-kilogram canister, depending on the type of gas, from May 1.

Do Trung Thanh from the Saigon Petro Company, Ltd said that the retail price for SP gas would increase by VND8,000 to VND391,000, or $18.6, for a 12-kilogram canister, compared with the price at the beginning of April.

Meanwhile, Pham Anh Tu from the Hanoi Branch of Gas Petrolimex said that the retail price would increase by VND3,300 to VND407,000, or $19.3, for a 12-kilogram canister.

This is the first time that domestic gas prices have been increased after being reduced four times since the beginning of 2014. According to the gas companies, the prices have been raised because the global gas prices in May have increased by $10 per tonne to reach $817.5 per tonne, compared with the April prices.

On April 1, the retail gas prices had been cut by VND20,000, or $0.95, to VND380,000, or $18.09, for a 12-kilogram canister. — VNS

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