Vietnam firms sell petrol at VND1,600/liter loss

Local petrol firms are selling retail petrol at a loss of VND1,600 per liter the state-owned Vietnam National Petroleum Corp (Petrolimex), the national biggest petroleum trader said.

Petrolimex quotes gasoline A92 average price of $88.43 a barrel compared with $85.32 a barrel on October 20 when they also lost VND300/liter.

In the Asian market, the crude oil increased for the seven straight days, standing at around $87/barrel.

Earlier, on October 20, the Vietnam Ministry of Finance (MoF) requested gasoline firms to keep the domestic prices of gasoline unchanged despite the recent gasoline prices hike in the world market.

The Ministry allows the gasoline firms to get a subsidy from gasoline stabilization funds of VND550/liter for diesel petrol and oil, VND700/liter for kerosene and VNd250/liter for Mazut.

Currently, a liter of gasoline A92 is sold at VND16,400, gasoline A95 at VND16,900, diesel 0.25S VND14,700, diesel 0.05S VND14,750 and kerosene VND15,100, Petrolimex said. – Stoxplus.com

Tags: Vietnam petrol, Vietnam Petrol prices