The Vietnam Gas Association has justified hike in retail price of a 12 kg domestic cooking gas cylinder by VND52,000 from today, March 1 because of rise in global gas price, which has skyrocketed to US$180 a tonne.
|Retail price of a 12 kg cooking gas cylinder will increase by VND 52,000 from March 1 (Photo: SGGP)|
The new retail price of a 12 kg cooking gas cylinder will now vary from VND480,000 to 485,000.
According to experts, global gas prices rebounded in early February because of a volatile political situation in and around the Middle Eastern countries, the largest oil suppliers in the world.
High gas prices have decreased consumption in the domestic market. Turnover of gas agencies has plunged by 25-30 per cent.
The Vietnam Gas Association along with other related businesses have proposed to the Ministry of Finance to cut gas import tariff from 5 percent to 2 percent, so as to support the domestic consumer. However, the ministry has yet to respond.
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