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Another proposal on petrol price increase rejected
State agencies have twice rejected proposals in the last ten days by key petrol importers to raise the retail petrol price, though importers complain they are incurring losses as the world’s petrol price keeps rising.
In the most recent case, five key petrol importers, including Petrolimex, which is now holding 60 percent of the market share, registered to raise the retail petrol price by 500 dong per litre.
However, the proposal was rejected by the Ministries of Finance and Industry and Trade, which have asked the enterprises to keep sale prices stable and keep watch over the world’s prices for some more time.
Prior to that, the ministries said ‘no’ to a proposal to raise retail petrol prices made by nine key petrol importers.
Deputy General Director of Petrolimex Vuong Thai Dung said that petrol importers are facing big difficulties since the import prices have increased.
Dung said that over the last one month, the world’s average price has been staying firmly high at $70/barrel, while it soared to $76/barrel on June 3.
According to Dung, in the first five months of the year, the world’s petrol price increased by 55 percent, while the domestic price increased by 14 percent only. Similarly, the diesel price has increased by 27 percent, while the domestic price has decreased by 5 percent. The kerosene price has increased by 21 percent, while the domestic price remains unchanged.
“This has made us incur losses of nearly ten billion dong a day,” Dung said.
Domestic petrol prices have been raised three times (500 dong increase each time) since the beginning of April due to the rising world’s prices, while the kerosene price has risen two times. A92 petrol is now selling at 12,500/litre, 0.05S diesel 10,500/litre, while kerosene 12,000litre.
VietNamNet, TBKTVN
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