Vietnam to keep domestic petrol prices stable: MOF

The domestic petrol prices of Vietnam will be kept stable until Tet holiday, the country’ traditional new year festival

The domestic petrol prices of Vietnam will be kept stable until Tet holiday, the country’ traditional new year festival, the online newspaper Tuoitre reported on December 6, citing Nguyen Tien Thoa, Head of Price Control Deparment under the Mistry of Finance.

Thoa said that he refused the proposal of raising the petrol prices from local fuel traders.

The tax on imported fuel was cut down by 5% to 12% from December 1, the Ministry of Finance announced in the Circular 190/2010/TT-BTC.

Earlier, the Ministry allowed 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.

Local petrol firms are selling retail fuel at loss, including petrol (VND2,000/liter), diezel(VND1,800/liter), kerosene(VND2,100/liter) and mazut(VND1,200/liter), the state-owned Vietnam National Petroleum Corp (Petrolimex), the national biggest petroleum trader said. – Stoxplus.com

Tags: Vietnam petrol, Vietnam Petrol prices

Posted by VBN on Dec 7 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