Fuel prices remain unchanged: Ministries

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Báo Tuổi Trẻ English - 74 month(s) ago 14 readings

Fuel prices remain unchanged: Ministries

The Ministries of Finance and Industry and Trade yesterday ordered all fuel wholesalers countrywide to keep their gasoline, diesel, mazout and kerosene prices unchanged, despite the recent global fluctuations.

fuel Photo: Tuoi Tre

Instead, the ministries approved certain changes on the use and deduction of the fuel price stabilization fund.

Accordingly, wholesalers are now allowed to use VND1,000 from the fund to cover losses for every liter of diesel they sell as of November 28, since the prime cost of this commodity is currently lower than the retail price.

Similarly, the respective rates for kerosene and mazout oil are VND900 a liter, and VND950 a liter, the ministries said.

As for gasoline, whose prime cost is higher than the retail price following the slumps in global prices, the Ministry of Finance increased the surtax that has been slapped on every liter of gasoline to add to the fuel price stabilization fund from VND300 to VND550.

The surtaxes for diesel, kerosene and mazout will remain unchanged.

The chief of a fuel wholesaler was quoted by the Saigon Times Online as saying that the new directive on fuel price management was “a good decision” at a time when the retail price is not allowed to be increased and the price stabilization fund is quite large.

“The new order from the Ministry of Finance will prevent wholesalers from incurring losses with the fuel oil commodities,” he told the newswire.

At a National Assembly meeting last week, Minister of Finance Vuong Dinh Hue reported that the sum remaining in the fund is expected to be VND2.5 trillion by the end of this year.

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