Petroleum traders have been requested to maintain petrol prices throughout the Tet holiday, and will increase the use of the petrol price stabilisation fund.
| Petrol prices will be maintained through Tet holiday |
The Ministries of Industry and Trade, and Finance came to the decision on January 19 that petroleum prices must be maintained at VND20,800 (USD0.98) per litre of 92 octane gasoline, and at VND21,300 (USD1.01) per litre of 95 octane gasoline as currently.
Prices of oil products must be also maintained throughout the Tet holiday, they noted.
In order to facilitate petroleum trading businesses, the ministries have allowed them to increase the usage of the petrol price stabilisation fund by VND550 to VND1,240 per litre of gasoline, and by VND340 to VND780 per litre of kerosene.
The usage of the fund will be hiked by VND870 to VND1,610 per kilo of fuel oil, they added.
Petrol prices decreased by VND500 per litre on August 27, and have remained unchanged since then, following two price hikes in February and March.
The latest price cut in oil products was applied on October 10, bringing diesel prices down by VND400 per litre to VND20,400/litre, and kerosene by VND300 to VND20,200 per litre.