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Petrol price increase of 1,000 dong per litre considered
Petrol importers and distributors are seeking permission to raise the retail petrol price by 1,000 dong per litre.
The Military Petroleum Corporation, PV Oil and Saigon Petro have proposed to raise the retail price, as a result of world price increases.
The proposed price increases are 500-1,000 dong per litre for petrol, while the price increase of 1,000 dong has been proposed for diesel and kerosene.
The Ministry of Finance has confirmed that it has received the proposal from petrol importers and distributors and relevant ministries are considering the proposal.
Local newspaper VnExpress quoted a source saying they may be allowed to raise the retail price by a little in order to help ease losses. Besides, the ministries are also thinking of asking enterprises to contribute money to the petrol price stabilization fund.
Meanwhile, the Vietnam National Petroleum Import - Export Corporation (Petrolimex) which now holds 70 percent of the market share, had been quiet until yesterday afternoon. No proposals on raising retail prices have been made by the giant.
However, local press agencies quoted representatives from the corporation as saying it has not been making a profit over the last 20 days for petrol sales, while it has been incurring the loss of 1,000 dong per litre for oil products.
The latest petrol price increase occurred more than 20 days ago (October 24), since then, the world oil price keeps rising means more losses.
In related news, every litre of petrol and fuel may also be charged 6,000 dong for environment fees as planned by the Ministry of Finance.
The draft environment law, which is now open for public opinion on the ministry’s official website, says it is necessary to control the group of eight products which are considered culprits for environment pollution and harming people’s health.
Under the draft law, the environment fee for petrol and air fuel is between 1,000 and 6,000 dong per litre, while the fee is expected to be 500-2,000 dong for diesel and 300-2,000 dong for kerosene, mazut and 6-30 dong for coal.
VietNamNet, VNE
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