Increase in import tariff on gas

The Ministry of Finance has increased the import tariff on liquefied petroleum gas (LPG) from 0 to 5 percent from June 20, in order to create a balance for consumers, government and import companies.

Since April 2012, the price of LPG has gradually gone down. Because this trend continues this month, retail prices on gas have decreased around 18 percent compared to April, allowing for an increase in its import tariff.

The Ministry of Finance has also requested gas businesses to do their utmost to keep costs down in order to maintain a stable price structure.

Local finance departments have been asked to strictly monitor retail gas prices to avoid abnormal and sudden price hikes.

Any gas business not registering its retail price or unreasonably changing prices will be sternly dealt with and penalized in accordance with current business laws.

By Ng.Quang – Translated by Thanh Tam

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