Vietnam Yet Raises Petrol Prices
The Vietnamese Ministry of Finance May 28 decided not to hike domestic petroleum retail prices despite gradual rise in the global market.
The ministry requested petrol traders not to add surcharge to price of kerosene for the petrol price stabilization fund from the beginning of May 29.
The ministry will soon decide to lower mazut import tax and will prolong the deadline for traders to refund the state advance worth VND3 trillion (US$177.51 million) for a month more.
To date, a total of nine petrol wholesalers in Vietnam have made price hike proposals and moaned they are losing nearly VND1,200 per liter of gasoline, VND1,000 per liter of kerosene and VND1,500 per liter of diesel.
According to a market watchdog, the light sweet crude oil price for July delivery rose to US$65 per barrel May 28 in the New York market.
Meanwhile, the world petroleum price has risen to US$65 per barrel of 0.25S diesel and nearly US$67 per barrel of A92 gasoline in recent days.
Currently, a liter of A92 gasoline is priced at VND12,500/liter, A95 at VND13,000/liter, kerosene and diesel at VND12,000/liter, and at VND10,500/liter. (Labor, The People)
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