In March 2nd, afternoon, retail price of gas of Saigon Petro has adjusted to reduced by VND16,000 in domestic market after increasing by VND52,000 a cylinder of 12kg in previous two days.

So the retail gas price of Saigon Petro will be VND461,000 a cylinder in March 3rd from VND477,000 a cylinder of 12kg in previous day.

Company has lowed it price after Ministry of Finance easing import tax rate of gas to 0% from 5% since March 3rd.

Mr Do Trung Thanh – Sales Manager of Saigon Petro said that: “The reduction of import tax to zero of Ministry of Finance let us cut down price by VND1,333 a kg, equivalent to VND16,000 a cylinder of 12kg to share the difficult with customers”.

In the early March, Saigon Petro has lifted retail price by VND52,000 to VND477,000 a cylinder of 12kg. Other distributors also increased price by VND40,000-48,000 (depend on companies).

Th reduction of price helped customers to ease the burden, however, some said that gas companies lowered price just a little bit, it was unfair.

Gas price in the world market reached peak at USD1,205 a tonne, so the price reduction may be at VND7,000.

Source: Xangdau.net