Home Commodities

6 fuel wholesalers to come under scrutiny

May 26th at 14:32
26-05-2012 14:32:07+07:00

6 fuel wholesalers to come under scrutiny

The Ministry of Finance will run an inspection into the price registration and commission allocation of six fuel wholesalers between late May and early July.

The companies to undergo the 45-day inspection include PV Oil, Petec, Petimex, Petrol Marine Trading Co, VINAPCO, and Thalexim.

At the end of 2011, the Ministry of Finance audited the fuel import prices at Petrolimex, PV Oil, SaigonPetro, and Petimex.

Last March, the Ministry of Industry and Trade revoked the business license of Petro Mekong, a subsidiary of PV Oil.

The Vietnam National Shipping Lines, or Vinalines, also had its license canceled for failing to meet the required import quota, newswire VnExpress reported.

The State Audit of Vietnam this year also planned to audit three wholesalers including Petrolimex, Saigon Petro, and MIPECO.

Fuel prices in Vietnam on Wednesday enjoyed the second cut of the year.

Retail price of A92 gasoline dropped by VND600 a liter from VND23,300 to VND22,700 (US$1.08) a liter, while diesel oil price was reduced by VND400 to VND21,200 a liter.

Fuel prices have gained totally VND3,000 a liter after two increases so far this year.

tuoitrenews

MOST READ

NEWS SAME CATEGORY

Goldsmith companies considering shifting to other businesses
COMMODITIES May 26th at 14:19

Goldsmith companies considering shifting to other businesses

The decree on the gold market management would take effects as of May 25. However, goldsmith companies have been facing big difficulties over the last many years in...

Gold retreats to VND41 million
COMMODITIES May 25th at 14:46

Gold retreats to VND41 million

Price of gold in Vietnam failed to maintain recovery this morning, retreating to near VND41 million a tael (1.2 ounces) on May 24 as global price was still chased...

Ministry hikes import tax on petrol by up to 4%
COMMODITIES May 25th at 14:34

Ministry hikes import tax on petrol by up to 4%

The Ministry of Finance issued yesterday a circular to ask petrol importers to follow the new import tariffs.

Gold rush
COMMODITIES May 25th at 14:27

Gold rush

Illegal gold mining at a section of the Dak Rong River in the central province of Quang Tri.

Petrol prices cut as world oil markets cool down
COMMODITIES May 24th at 15:29

Petrol prices cut as world oil markets cool down

The Ministry of Finance cut the retail price of A92 petrol by VND600 yesterday afternoon, from VND23,300 to 22,700 per litre. The price of diesel fuel was also...

Ethanol to be exported due to lack of domestic demand
COMMODITIES May 23rd at 15:13

Ethanol to be exported due to lack of domestic demand

PetroVietnam has announced that it will increase exports of ethanol fuels due to a lack of market demand at home.

Gold now at the “T-junction”
COMMODITIES May 21st at 15:28

Gold now at the “T-junction”

The deadline for short term gold certificate issuance by credit institutions has been extended to November 25 instead of May 1 as previously scheduled. However, the...

Importers reap profits as world gas prices fall
COMMODITIES May 19th at 14:48

Importers reap profits as world gas prices fall

Petroleum importers have made a windfall profit of VND700-800 (US$0.033-0.038) per litre of oil over the past month as world oil price falls have not been fully...

Gold makes sharp jump
COMMODITIES May 18th at 15:36

Gold makes sharp jump

Price of gold in Vietnam surged to VND41.6 million a tael (1.2 ounces) on May 18 as global price unexpectedly jumped by more than 2 per cent from a ten-month low at...

Commodities trade may expand
COMMODITIES May 18th at 15:25

Commodities trade may expand

Pepper, sugar and cotton fibre may be listed for trade on the Viet Nam Commodity Exchange (VNX) under a proposal by the Ministry of Industry and Trade (MoIT).

Read More

Commodity prices

MOST READ

Back To Top