According to calculation from Ban Viet Securities Company (VCSC), in the next few days, gas prices may rise further VND600-1,000 a liter, the second time within a month.

As reported by VCSC, the 30-days average price of A92 gasoline has risen to VND22,000 a liter, VND1,000 (4.8%) higher than the current retail price of VND21,000 a liter.

VCSC, however, said that Ministry of Finance may consider reducing the import duty around 2% to 10% in oder to support distributors. So retail gasoline price are likely to be at VND21,600 VND liter in the next time.

VCSC said the 30 days average price of A92 gasoline in Singapore will continue rise because gasoline prices in the world market still keep to increase and closed at USD115.1 a barrel on 27/07/2012, dragging A92 gasoline price in domestic market may reach the highest level for two months at USD113 a barrel, equivalent to VND22,800 a liter in the next two weeks.

VSCS added that gas prices could negatively impact on the transport group but impact not much on the consumer price index (CPI) due to consumer prices has been decreasing in last two months. CPI is now at 5.35% higher than over the same period last year, but still lower than the government forecast of 7% -8%.

Xangdau.net