According to the Price Management Department under the Ministry of Finance, an inspection of the December 2012 price registration dossiers of five major gas trading enterprises showed that all five strictly complied with regulations by submitting their price registration before implementing retail price adjustments from early December 2012.
A representative of the Price Management Department stated that the recent decline in domestic gas prices was consistent with the drop in contract prices (CP) on the global market. It is forecast that domestic gas prices will remain stable in the coming week.
In the first 15 days of December 2012, total LPG consumption reached about 55,000 tons, stable compared with the same period in November 2012. Of this, domestic production from the Dinh Co and Dung Quat plants was estimated at 30,000 tons (55% of demand), while imports accounted for 25,000 tons (45% of demand).
The Department’s report also noted that since December 1, as global CP prices fell 3.92% compared with November 2012, local gas companies reduced retail gas prices by VND 10,560–12,000 per 12kg cylinder, depending on the enterprise. The five enterprises that fully complied with the price reduction registration were: Petrolimex Gas Joint Stock Company (Hanoi Branch), Ho Chi Minh City Oil and Gas One-Member Co., Ltd., PetroVietnam Gas Corporation – Gas Products Trading Company, Northern Gas Trading JSC, and Southern Gas Trading JSC.
(Tin Tuc Online 22/12, Law Section, author Minh Phuong)
