Cooking gas retail prices in domestic market continues to increase additional VND16,000 a cylinder of 12kg from October 1st, following the uptrend of globle gas prices delivery October and high premium.

Mr Do Trung Thanh from Sale department of Saigon Petro said that price of gas SP (a brach of Saigon Petro) has up VND1,333 a kg with VAT 10%, equivalent to VND16,000 a cylinder of 12kg. Accordingly, retail price of gas SP has been pushed to VND434,000 a cylinder of 12kg.

Mr Do Trung Thanh explainted Saigon Petro lifted its price due to an increase of October cp contract from the Aramco (an state owned Arab Saudi petroleum group) as well as higher premium. At the result, October cp contract has closed at USD995 a tonne, up by USD45 a tonne over September contract. While premium price (freight, insurance ...) has increased to VND104 from USD93 previously.

However, Mr Huynh Ngoc Tue said his company - Petrolimex Gas, now has not yet decided, but it will increase price soon.