Petrol company caught violating price regulations

The market management team in Dac Nong Province has found that a private petrol company, operating from Nam N’jang Commune of Dac Song District, has increased prices to VND25,200 per litre from current selling price of VND20,800 per litre, on A92 gasoline.

Bien Van Minh, director of the Dac Nong Province Department of Industry and Trade announced on Jan. 31, that the company could be fined anything from VND10-20 million and even have licence revoked for a period of 3-6 months for violation.

According to residents in the province, the Thanh Luong Private Company increased gasoline prices without prior permission from authorities.

In other news, a representative of the Vietnam Gas Association has reported that the delivery gas price has increased to US$145 per ton, and hence gas companies will increase domestic gas prices by VND42,000 per a 12kg cylinder, to cost VND428,000 from February 1.

This is the highest increase since the beginning of the year and for the fourth consecutive month.

By T.Tuyet,D.Trung – Translated by T.Huong

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