Some distributors have just announced to drop retail price of cooking gas another VND10,000 a cylinder of 12kg, while other said they are considering to seek measures to keep market share.

Gas price has constantly fluctuated since early this month after anticipated to reduce in April.

Since March 15th, H gas price will be fallen to VND430,000 a cylinder, the third time price cut off total VND36,000 since early this month.

Price reduction from H gas has impact on other distributors. They are consider the situation and will have some measures to keep their market share.

Talking to Saigon Economic Times online, representatives of major gas distributors said gas price fluctuate constantly in the past time. Distributors had to lower price for agents or customers to release and cut losses after rumours about price to reduce in the next month.

Gas price in the world market eased by USD125 a tonne compare to early this month in March 13th, so retail price in the domestic market is expected to fall by VND40,000 a cylinder of 12kg in April.

A gas distributor told that: “Gas price kept at high level in recent time has pulled demand to plunge and dragged inventory to higher. If price in world market continues reducing in the next month, distributors will be in losses. They are seeking the measures to cut losses.

Previously, from March 10th-11th, some distributors such as SP, PV gas, Pacific and Petrolimex gas simultaneously dropped retail price VND10,000 a cylinder to sitimulate demand. However, some of them occurred lossed after lowering price at that time.

Mr Huynh Ngoc Khue- Gas Sales Manager of Saigon Gas Petrolimex stressed that retailers stop and switch to other distributors for cheaper price if his company does not cut price for them.
 

Xangdau.net