Vietnam petrol traders must slacken price hikes through end-Aug

Vietnamese petroleum traders must slacken price increases through end-August in order to curb possibly high CPI and stabilize local market, said the Ministry of Finance’s Price Management Department.

The country’s CPI may rise between 0.2% and 0.25% in August versus July, regardless of fore majeure, including storms and floods.

Meanwhile, the Ministry of Planning and Investment’s Department of Economics and Services forecast prices of four staples of petroleum, steel, cement and fertilizer may rise slightly or be kept unchanged in August, and could not be lowered in the third quarter of this year due to supply-demand imbalance.

Recently, the MoF issued an official document to request petroleum traders to slacken price hikes to 30 days instead of earlier 10 days.

The ministry has twice requested petroleum traders again to lower the domestic retail prices in line with the price fall in the world market.

Currently, prices of gasoline A92 is at VND15,990/liter, diesel at VND14,350/liter, kerosene at VND14,700/liter and fuel oil at VND12,500/liter.

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Aug 6 2010. 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