Vietnam to spend VND8-9Tln stabilizing fuel prices

Vietnam is likely to spend around VND8-9 trillion in the coming time to keep the fuel prices stable, the online newspaper Tuoitre reported on Jan 17, citing Nguyen Tien Thoa, the Ministry of Finance’s Head of Price Control Department.

Thoa said that the country spent VND10 trillion on stabilizing domestic gasoline prices in 2010 as the world prices currently stand at the high level, including VND3 trillion from stabilization funds and VND7 trillion from tax cut.

The domestic gasoline prices will not increase until Tet holiday at least, Thoa affirmed.

Earlier on late Jan 14, MoF has issued Circular No 07/2011/TT-BTC to guide the implementation of import tax cuts for gas and oil in 2710 group.

In details, import tax on gasoline fell to 0% from previous 6%, kerosene to 2% from 6%, diesel to 0% from 2%; and fuel oil (mazut) to 2% from 5%. – Stoxplus.com

Tags: Vietnam fuel prices

Posted by VBN on Jan 17 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