Petroleum wholesalers in Vietnam including the state-owned Vietnam National Petroleum Corp (Petrolimex) and the Military Petroleum Company April 5 proposed the Ministries of Finance and of Industry and Trade to raise domestic retail prices of gasoline, diesel, and mazut in the wake of recent rise in the global rate.
The ministries, however, has not yet mentioned how much the traders want to hike and what is the ministry’s decision on petroleum price.
Traders moan they are importing petrol products at higher rates in the Singapore market, particularly gasoline price hitting US$58 per barrel, DO 0.25 US$60.5 per barrel, and FO US$313.81 per ton.
A representative from the Military Petroleum Company said that with the imported prices his company is suffering a loss of VND500/liter of gasoline A92, VND800-VND900/liter of diesel, and VND1,000/liter of mazut.
While Vuong Thai Dung, deputy general director of Petrolimex complained that his corporation is losing nearly VND1,000/liter of gasoline, VND700/liter of diesel, and around VND300/liter of mazut.
Since the beginning of this year, petroleum traders in Vietnam have hiked domestic price twice despite the cut of petroleum tax rate by 5 per cent to 20 per cent.
Currently, a liter of A92 gasoline is priced at VND12,000/liter, A95 at VND12,500, kerosene at VND11,500, mazut at VND8,500, diesel 0.05S at VND10,000 and diesel 0.25S at VND9,950. (VietnamNet)
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