Gasoline Prices in Vietnam Lower than Other Nations’ Rates: MOF

Vietnam’s current retail gasoline prices of VND14,200/liter for A92 and VND14,700/liter for A95 is still lower than the rates of between VND14,906/liter and VND20,672/liter in some countries in the world, said Nguyen Tien Thoa, head of the Price Control Agency under the Ministry of Finance.

 

In the wake of the global oil prices, many countries have raised gasoline retail prices, to equivalent of VND14,906/liter in Thailand, VND15,376/liter in Cambodia, VND16,686 in Laos, and VND20,672 in Singapore, Thoa attributed.

 

Thoa also rejected recent information saying that gasoline prices in Vietnam are currently VND2,000/liter higher than the levels in the U.S..

 

Explaining petroleum price hikes, the ministry had calculated the rates based on petroleum rates in Singapore within 20, Thoa said.

 

In the coming time, only petroleum traders that submit the ministry for approval their petrol price adjustments will be allowed to apply the new prices, Thoa added. (The People, Youth, HCM City Law)