Gas traders in Vietnam have raised prices by VND14,000 (USD0.66) per tank because of a lack of domestic supply.
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| Gas prices on the rise |
Beginning March 26, large gas companies has started charging more for their products, according to an official from Ho Chi Minh City’s Petroleum Co., Ltd (Saigon Petro). These companies include Vinagas, Gia Dinh and SP, all large dealers in the market.
The price hike has brought gas prices to VND343,000 (USD16.41) per 12-kg tank, he said.
According to Do Trung Thanh, Deputy Head of SaigonPetro’s Gas Sales Department, the instability in Libya and the Middle-East has affected the worldwide gas supply, while the natural disasters in Japan have made gas demand in the country surged.
Domestically, the Dung Quat oil refinery has suspended operations for around two to three weeks, adding to the gas shortage, Thanh said.
Officials from some gas companies estimate that the country’s gas supply may be decreased by 20% by the end of this month, which could lead to even higher gas prices.
Vietnamese consumers use tanked gas delivered to their kitchens for cooking.
