Four major fuel trading companies submitted a proposal on raising the petrol price to the Finance Ministry on Wednesday.
HA NOI —
The firms included the Viet Nam National Petroleum Group (Petrolimex), PetroVietnam Oil Corporation (PV Oil), the HCM City One-member Limited Liability Oil and Gas Company (Sai Gon Petro) and Dong Thap Petroleum Trading Import Export Co Ltd (Petimex).
According to business representatives, the higher fuel base price versus the retail price has attributed to loss.
The average petrol price in the last 30 days has been high at US$134 per barrel while the import tax rate on petrol items remains at 0 per cent, said Nguyen Tien Thoa, director of the Price Management Department under the Finance Ministry.-VNS