|
 Nhan Dan Online - From 10am July
21, retail petrol prices have all increased with A92 petrol
is being sold at VND 19,000 a litre, up 30%.
A press conference was held
earlier this morning at the Ministry of Finance on the
adjustments of domestic retail petrol prices. Deputy Prime
Minister Hoang Trung Hai, Minister of Finance Vu Van Ninh,
Minister of Industry and Trade Vu Huy Hoang, Deputy Minister
of Information and Communications Tran Duc Lai were present
at the conference.
According to Decision 57/2008-QD
BTC, from 10am July 21, retail petrol prices will be
adjusted as follow:
|
Names of petrol |
Old price (VND/litre) |
New price (VND/litre) |
Difference (VND/lietre) |
|
Unleaded petrol (A92) |
14,500 |
19,000 |
4,500 |
|
Diesel oil 0,05F |
13,950 |
15,950 |
2,000 |
|
Kerosene oil |
13,900 |
20,000 |
6,100 |
|
Mazut oil (2b) |
9,500 (VND/kilogramme) |
13,000 (VND/kilogramme) |
3,500 (VND/kilogramme) |
Under the decision, domestic
petrol importers and traders are also allowed to adjust
retail petrol prices according to the market prices within
their distribution networks.
According to Minister of Finance
Vu Van Ninh, though the price of crude oil has currently
declined slightly, however within the current situation,
enterprises should be allowed to raise retail petrol prices
to ensure their business operations. Current import tariff
for oil is put at 0% and the State still has to compensate
losses for these products.
The adjustments this time,
though prices in Vietnam are still lower compared to many
other countries, have helped reduce impacts of the highly
increased global petrol prices, reduce difference in prices
with regional countries, stop to a certain extent the
smuggling of petrol across borders, fight trade frauds and
reduce subsidy that the State budget has to cover.
The latest adjustments in retail
petrol prices happened on February 25, 2008. At that time,
global oil was US$99.5 a barrel and domestic petrol price
was increased from VND 13,000 to VND 14,500 a litre.
Currently, world oil price is
around US$140-145 a barrel.
With these adjustments, in the
second half of this year, the State shall have to compensate
for a total loss of nearly VND 53 trillion, if the global
oil price averages US$145 a barrel.
The sharp increase in domestic
retail petrol prices will create more difficulties for local
consumers and producers, as fuel costs will increase,
leading to the increase of all products and services.
By Chi Trung |
