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Domestic petrol prices yet to fall

Aug 7th at 11:08
07-08-2013 11:08:17+07:00

Domestic petrol prices yet to fall

Vietnamese authorities seem unsure if and when petrol rises will fall in line with world prices for oil, but the chances are that nothing will happen until the end of September when a new decree governing the petrol industry is issued.

 

At present, any. adjustments to petrol prices must comply with Decree 84, said Nguyen Xuan Chien, Deputy Director of the Domestic Market Department under the Ministry of Industry and Trade.

Although world petrol prices have been falling since the end of July, any decrease in domestic petrol prices must be based on the calculations of the 30-day average world prices, Chien said.

If the 30-average falls, wholesale enterprises must lower the domestic retail petrol price, Chien said.

Chien added that there would be a completely new decree to replace Decree 84 which was revealed many limitations in regulating petrol business, instead of just amending it.

vietnamnet

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