“We have decided to stop selling petrol at the stations under our chain to cut losses,” said Pham Truong Nguyen Phuong, deputy director of Huong Thuy SJC, which manages the said filling stations.
Import prices of oil and petrol commodities remain high, Petrolimex said, citing latest figures as saying that A92 gasoline in Singapore, Vietnam’s main source of petroleum, on Tuesday cost US$132.7 a barrel.
The average import price for A92 gasoline in March was $134.48 a barrel, up by 4.55 percent compared to a month earlier.
The high import price has forced local wholesalers to cut commissions for their dealers. Commissions now range from VND360 to VND400 a liter to general dealers getting the fuel at the wholesalers’ depots.
This means other fuel retailers can receive only VND100-200 on every liter of gasoline. The rate for those in rural areas is even lower, only VND50 a liter.