Retail petrol and oil prices adjustment on the table

The Price Management Department has proposed to the Ministry of Finance to adjust the retail prices of petrol and oil for the purpose of balancing benefits of gasoline firms, the state and consumers as the domestic firms are selling at a gain

The Price Management Department has proposed to the Ministry of Finance to adjust the retail prices of petrol and oil for the purpose of balancing benefits of gasoline firms, the state and consumers as the domestic firms are selling at a gain, the state-run media VTV1 quoted Nguyen Tien Thoa, Head of the department today.

Domestic gasoline retailers currently gain roughly VND700 per liter of oil and VND100 per liter of petrol, the online newspaper Tuoitre reported on June 7, citing the Ministry of Industry and Trade.

The domestic gasoline prices are higher than the nearby countries that Vietnam has to face with smuggling oil and petrol import, Dam Thi Huyen, Deputy General Director of Petrolimex said.

The prices of oil and petrol rose up to nearly 35% in two months this year of February and March, attributing to the price level higher in the recent month. – Stoxplusc.com

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Jun 9 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry