|
Petrol price slashed by VND1,000/litre
The Ministry of Finance earlier this morning released the decision on reducing the retail A92 petrol price by VND1,000/litre to VND18,000/litre, which became valid as of 10 am of August 14. The same price decrease has also been applied to kerosene.
A92 petrol price has decreased to VND18,000/litre, while A95 petrol to VND18,500/litre. The prices of other oil products, including diesel and DO, will be defined by enterprises themselves; however, the sale prices must not be higher than VND18,000/litre
The decision on slashing petrol and oil prices has been made after the world’s oil price has been continuously decreasing in the last time, now trading at $116.67/barrel.
On July 21, the domestic retail price was raised by 30% as the result of the world’s expensive oil. The price of A95 petrol was raised from VND14,500/litre to VND19,000/litre. However, the world’s oil price has been decreasing since then, from the highest peak of $140/barrel to $112/barrel yesterday.
Experts said that with the current oil price in the world’s market, petrol importers now can make the profit of VND4,500-5,000/litre of A92 petrol and VND2,000/litre of oil. However, enterprises still have much inventory petrol which was imported before with high prices
Petrolimex, the biggest petrol importer and distributor in Vietnam, and other distributors told press agencies that they have received the instruction from the Ministry of Finance on petrol price decrease, and they will follow the instruction
One week ago, local residents in HCM City rushed to buy petrol for speculation as they heard the rumour that the petrol price would rise to VND21,000/litre. The movement of purchasing petrol only stopped after the Ministry of Industry and Trade made public announcement that it did not intend to make any further price adjustments at that moment and the time to come.
The petrol price has decreased, but airlines will still begin collecting fuel additional charge tomorrow, August 15, 50-180,000 per travel.
VNN
|
