Fuel prices increase though traders further tap stabilisation fund

08-Sep-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

Petrol and oil prices on the local market were marked up on September 6, despite the use of the price stabilisation fund, according to a statement jointly issued by the Ministry of Industry and Trade and the Ministry of Finance.

Under the statement, the two ministries allow fuel traders to raise the price of RON95-III and E5 RON92 gasoline by VND300 per litre to VND21,470 per litre and VND19,910 per litre, respectively. The price of diesel oil 0.05S increased by VND383 per litre to VND18,069 per litre, while kerosene and heavy fuel oil 3.5S are now priced at a maximum of VND16,559 per litre and VND14,916 per kilogram, respectively.

Retailers are allowed to tap VND1,563 from the price stabilisation fund for each litre of E5 RON92 sold and VND960 for each litre of RON95 gasoline. For diesel oil and kerosene, retailers get VND400 per litre and VND300 per litre, respectively.

Explaining the hike in retail fuel prices and the excessive use of the fund, the competent agencies noted that the prices of imported fuels in the past 15 days, from August 23 to September 5, had skyrocketed, alongside fluctuations in the exchange rate between the US dollar and the dong.

According to a source from the Vietnam National Petroleum Group (Petrolimex) as the country’s biggest fuel trader, customers buying fuels at Petrolimex outlets on September 7, 14, 21 and 28 will be offered a discount of VND300 per litre.



Category: Economy, Vietnam

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