Vietnam Keeps Petrol Prices Unchanged Now
The Vietnamese government has just decided to keep the retail petroleum prices unchanged at present and asked petrol trading companies to refund VND1,000/liter of petrol sales to the government’s advance.
The traders must refund all government’s advance for their earlier losses in 2008 prior to October this year, the ministries said.
After the refunding, enterprises must extract part of the petrol revenue for the petrol price stabilization fund if they are found still making profit, the government requested.
The crude oil prices for August delivery are set at less than US$60/barrel in the New York market while the petrol import price are the Singaporean market has been continuously falling the recent 13 days, tumbling to between US$66 and US$67 per barrel July 11.
Vietnam decided to raise the petroleum retail prices between VND500 per liter and VND700 per liter or 5 per cent July 1 in accordance with the increase in the imported prices of gasoline A92, diesel and marzut to US$74.98 per barrel, US$76.79, and US$400.69 per ton in the Singaporean market, respectively.
Currently, prices of gasoline A92 are offered at VND14,200 per liter, gasoline A95 at 14,700 per liter, kerosene at VND13,650 per liter, mazut 3 S and mazut 3.5 S at VND10,500 per liter, and diesel at VND12,100 per liter. (VnExpress)
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