Petroleum price stabilisation fund at negative 2.3tr dong

26-Apr-2012 Intellasia | VEF | 11:19 AM Print This Post

After using the petroleum price stabilisation fund to control gasoline prices for many times, currently, the petroleum price stabilisation fund is at negative 2.3 trillion dong, the Ministry of Industry and Trade said.

From early this year so far, the petroleum price stabilisation fund has been adjusted for two times, of which the highest level was from 780 dong to 1,610 dong applicable from January 26, 2012. After two months, on March 7, at the same time with the strong increase in price, the use level decreased to 300 dong per litre for all four petrol items.

Till April 20, together with a sharp increase in petrol prices for the second time in the year, the use of petroleum price stabilisation fund has been halted.

In 2011, the petroleum price stabilisation fund was continuously discharged for six times with the highest compensation figure of 2,300 dong per litre for diesel oil during February 11 to 24, 2011.

As calculated by the Ministry of Finance, the contribution for the fund is only 300 dong per litre but the spending from this fund often doubled or tripled and even increased 5-7 times, therefore, the balance being contributed in whole year can be used up just in one month.

 


Category: Business

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