Petrol price stabilisation fund balance surges to VND5.22 trillion
Petrol price stabilisation fund balance surges to VND5.22 trillion
The balance of the petrol price stabilisation fund surged to more than VND5.22 trillion (some US$ 230 million) at the end of the third quarter of 2017, the Ministry of Finance reported on Monday.
Of the total, the balance of the fund at Viet Nam National Petroleum Group (Petrolimex) was the highest with VND3.1 trillion. It was followed by PetroVitenam Oil Corporation (PV Oil) with VND457.6 billion, Military Petroleum Corporation (MIPECORP) with VND381.6 billion and One-Member Limited Liability Oil and Gas Company of HCM City with VND352.7 billion.
However, there were five out of 27 petrol traders reporting negative fund balances. The highest negative fund balance was at Nam Viet Petro Refinery and Chemicals Company with over VND24.6 billion.
The fund used VND1.47 trillion to stabilise petrol retail prices in the third quarter of the year.
According to the ministry’s data, the fund’s balance has experienced significant growth since the beginning of this year. The amount was more than VND2.4 billion in the first quarter and VND3.97 trillion by the end of the second quarter, owing to the contribution made by petrol businesses. It jumped to over VND5.22 trillion in the third quarter.
