Fuel prices unchanged in Vietnam despite global fall

Vietnam's Finance Ministry on Friday asked traders to keep retail fuel prices on hold despite drops in the global markets in order to contribute to its price stabilization fund.

The fund will be used to offset losses incurred when world prices go up, the ministry said. It asked traders to contribute VND100 for every liter of diesel sold and VND200 for every liter of kerosene sold from Saturday onwards.

The ministry also said that the recent decline in global oil prices was very slight.

Oil product prices fell by 1.3-5.1 percent from August 30 to September 17, according to the ministry.

On Friday, US crude for October delivery fell 43 cents to settle at US$72.04 a barrel, while London Brent fell 23 cents to $71.32.

The ministry said Vietnamese fuel traders are earning a profit of VND300 per liter of petrol, VND396 per liter of diesel, and VND563 per liter of kerosene.

The popular 92-octane petrol price now retails at VND15,700 per liter. Kerosene is sold at VND14,000 per liter and diesel at VND13,100 per liter.

thanhnien, vietnamplus

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