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Fuel prices to stand

Jan 16th at 22:56
16-01-2013 22:56:10+07:00

Fuel prices to stand

The Ministry of Finance yesterday issued an official regulation letter ordering traders not to raise retail petrol prices.

At the same time, the two ministries of Industry and Trade plus Finance allowed key petrol traders to use the fuel price stabilisation fund as of yesterday afternoon in line with the current circumstances.

The two ministries decided to restart the use of fuel price stabilisation fund for petrol, kerosene and mazut oil with support of VND300 per litre while diesel oil is not covered under the latest compensation alllowance.

Thus, as of mid-November 2012, retail fuel prices remain unchanged. The RON 92 fuel costs VND23,150 per litre, after dropping VND500 per litre on November 11, 2012.

Last year, the petrol retail price was adjusted 12 times with six increases and six decreases. In the first two weeks of this month, the global oil price has shown signs of a slight increase.

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