Cooking gas prices in Vietnam are at a 11 year-high after companies announced a sharp hike effective Jan. 1 following a rise in the price of imported gas. The cost of a 12kg cylinder from Petrovietnam Gas, Saigon Petro, Gia Dinh Gas, and Saigon Gas has risen by VND11,000 to VND171,000 ($11). Other companies said they would increase the price in a few days' time since they did not "wish to mar New Year celebrations". Traders said gas prices were normally low at this time of the year but in December 2005 imported gas prices rose from $527/ton to $580. … [Read more...] about Gas prices rise sharply
Gas prices rise
Local gas prices rise after months of decreases
In Briefs (02-06-2009) Local gas prices rise after months of decreases HA NOI — Gas prices were increased by VND5,000 (US$0.3) on Sunday to reach VND188,000 ($10.6) per 12kg canister. The increase came after three consecutive months of price decreases. The local price hike was attributed to rising prices in the global market which surged by $35 to $425 per tonne due to increasing prices of crude oil. Work on trade centre, apartment complex starts HA NOI — The Housing and Urban Area Investment Development Corp has announced work will begin on its trade centre and apartment complex in Ha Dong's Van Quan new urban area this month. The company's NewSkyline complex will cover a total area of 7,500sq.m. Plans have also been made to begin construction of a housing office complex in Ha Noi this year. Central province grants licences to 27 projects NGHE AN — Nghe An People's Committee granted licences to five new projects in May worth VND550 billion (US$31 million). This … [Read more...] about Local gas prices rise after months of decreases
Cooking gas prices rise for third time
HA NOI — The retail price of a 12-kilo canister of cooking gas on Wednesday increased by VND4,000 to VND244,000 as a result of an adjustment of the interbank exchange rate from VND18,544 to VND18,932 to the dollar on the same day. Sai Gon Petrol Co announced on Thursday that the retail price of a 12-kilo canister of gas would now cost VND244,000. Petrolimex Gas Co meanwhile is selling a 12-kilo canister for VND272,000. This is the third time the gas price has increased since the beginning of the year. HSBC, Dong A Bank win magazine awards HCM CITY — US magazine Global Finance named HSBC Viet Nam the title of Best Consumer Internet Bank in the country. The bank received similar awards in Australia, Brunei, Hong Kong, Japan and Sri Lanka. The award was based on several criteria, such as strength of strategy for attracting and serving online customers, success in getting clients to use web offers, growth of online customers, breadth of product offers, evidence of tangible … [Read more...] about Cooking gas prices rise for third time
Firms Seek Ways to Save Energy After Gas Price Rises
A sharp increase in petrol prices has greatly affected the economy. Entrepreneurs are working on ways to save energy. Since 1999, the Majestic hotel has worked with the French Environment and Energy Management Agency's International Affairs Division on a project to replace 1,500 40-watt and 60-watt filament bulbs with energy-saving 7-watt and 11-watt bulbs. In 2003, the hotel installed touch-sensitive faucets and maintenance equipment. Last May, solar hot water panels were fitted to provide hot water for rooms. As a result, the hotel has saved money on energy. The New World Hotel and Diamond Plaza were given awards for Best Practices on Energy Efficiency and Conservation for Buildings by the Asian Center for Energy. Saigon Plastic Packaging Co., Ltd, Unilever Vietnam won awards as production enterprises that carried energy saving policies. Mr. Vo Thanh Dai, deputy manager of the Saigon Plastic Packaging Co., Ltd, said that energy saving is needed for the survival of the … [Read more...] about Firms Seek Ways to Save Energy After Gas Price Rises
Cooking gas prices rise again
Cooking gas prices rise again By Minh Tam - The Saigon Times Daily HCMC – Retail cooking gas prices in Vietnam from Monday increased by VND8,000 to VND365,000-370,000 per 12-kilo cylinder after falling for two months in a row. Local consumers complain that local gas prices do not follow the world market, rising sharply after modest decreases earlier. In May, local enterprises increased gas prices by VND30,000 to a record high of VND380,000 per 12-kilo cylinder after global prices surged US$87.5 to US$970 per ton. After global gas prices plunged US$80 and US$55 per ton in June and July respectively, domestic prices went down just VND15,000 and VND10,000 a cylinder. This is unreasonable as consumers only see mild decreases of gas prices even though global prices fell sharply. The prices continued to jump VND8,000 this month after global gas prices rose US$25, said Hong Phuong, a consumer in HCMC’s Tan Phu District. Consumers are also querying why the Ministry of Finance has … [Read more...] about Cooking gas prices rise again