Vuong Thai Dung, deputy general director of Petrolimex Corp on Tuesday July 29 said there needed to follow up the global oil price in a time for an expected reduction in Vietam’s petroleum retail prices.
In the latest increase on July 21, the kerosene selling price was still lower than the principal price (or capital price) while the oil price lost nearly 4,000 dong a litre.
During the first six months of this year, Petrolimex Corp lost over five trillion dong, including 950 billion dong from kerosene sales and 4.2 trillion dong from oil sales although the firm was forced to sell at a price of below import price.
With the same price increase cycle of last year, this year’s global oil price could be about US$140 a barrel.
Vietnamese state has so far had to subsidise too much to fuel prices. So, Petrolimex representative said, we do not dare to expect that petroleum prices could be lowered in the next time.