|
Oil price hike capped at VND500 at one time
Oil companies can only hike fuel prices by up to VND500 a liter even if global crude prices go back up, the Ministry of Finance said.
A ministry circular on setting up a fund to stabilize oil prices March 23 says the traders will be subsidized from the fund if global prices rise above domestic retail prices.
Even after the fund is exhausted, the oil companies cannot hike prices by more than VND500 at a time, it says.
The fund will be established from a contribution of VND500 by the firms on every liter or kilogram of gasoline, kerosene, diesel and other products they sell.
Vietnam, a crude exporter, imports most of its petroleum needs. Its first refinery, at Dung Quat in central Quang Ngai Province, went on stream only last month.
In 2008, the country spent US$10.8 billion importing 12.7 million tons of petroleum products, according to the General Statistics Office in Hanoi.
Ngan Anh
thanhnien
|
