Gas companies fleece their customers

Experts have proposed tightening State management of retail gas prices because domestic prices do not reflect the fall in international prices. The quality and price of gas may come under stricter control Different places, different prices Although contract fees for gas imports have gone down by USD100-120 per tonne, most import companies have switched to spot delivery contracts because the Dung Quat refinery is undergoing maintenance. This has driven up prices by USD60-80 per tonne. As world fuel prices continue to fall, domestic price should have seen a reduction of VND40,000 (USD1.9) per 12 kilo tank, but gas companies have only reduced their prices by VND30,000 (USD1.4) in order to maximise profits. Listed gas prices in Vietnam range from VND340,000-350,000 (USD16.1-16.6) per 12 kilo tank. Gas companies have been making large profits, as their reduction in prices reflect only 50% of the reduction in world prices. Ms. Liem, of Hanoi, said she bought a 12 kilo tank at Petrolimex on June 4 for VND360,000 (USD17.1) even though the listed price was VND340,000 (USD16.1). She was told by an employee that the extra cost was for business expenses, including transport, employee salaries, etc. Another Petrolimex outlet in Cau Giay District listed a different price of VND350,000 (USD16.6) for 12 kilos tanks. Managers at major gas companies refused to make any comment. One unnamed official said, "The prices we give to our dealers is not public information, and is flexible, depending on the situation." Do Trung Thanh, of Saigon Petro's Sales Department, said that the processes and time needed to adjust petroleum and gas prices was not the same. The price of petrol is managed by the Government, while gas prices are regulated by market management agencies. "Common interest among gas companies makes stabilising gas prices a difficult task. When PVN's Dinh Co Company was put into operation several years ago, gas companies held a meeting. The result of that meeting was Dinh Co raising their prices so the other companies could compete," Thanh said. Nguyen Xuan Chien, Deputy Director of the Domestic Market Department, under the Ministry of Industry and Trade, shared that the ministry would co-operate with the Ministry of Finance to require gas companies to lower their retail price. "Gas prices should be based on the market and comply with Government policies. The Ministry of Finance has the right to apply measures to stabilise gas prices if necessary", Chien suggested. Vietnam tours
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