Gas costs plummet on back of global price fall

HCM City (VNA) - Domestic retail gas prices have fallen
sharply, following a drop in price on the world market.

Several gas trading companies in Ho Chi Minh City said it was the
fourth drop in retail prices within the past three months.

Saigon Petrol, Gia Dinh Gas and Vina Gas have cut prices by 10,000 VND per
12kg canister to 243,000 VND (14.7 USD).


Inventories are still high and retail gas prices are expected to drop to
200,000 -210,000 VND (12 USD) per 12kg canister by November.

The current global financial crisis has cut demand for gas and led to
falling retail prices, gas traders said.

A representative of Petrolimex Gas Joint-Stock Company said the highest
gas price on the world market this year was 927 USD per tonne in July. By
the end of August, however, gas sold for 830 USD per tonne, and by September
800 USD. It fell even more strongly by mid-October.-Enditem