Petrol dealers ask for price hike

Four major fuel trading companies submitted a proposal on raising the petrol price to the Finance Ministry on Wednesday.

The firms included the Viet Nam National Petroleum Group (Petrolimex), PetroVietnam Oil Corporation (PV Oil), the HCM City One-member Limited Liability Oil and Gas Company (Sai Gon Petro) and Dong Thap Petroleum Trading Import Export Co Ltd (Petimex).

According to business representatives, the higher fuel base price versus the retail price has attributed to loss.

The average petrol price in the last 30 days has been high at US$134 per barrel while the import tax rate on petrol items remains at 0 per cent, said Nguyen Tien Thoa, director of the Price Management Department under the Finance Ministry

vietnamnews

>   Aussie insurer to buy stake in local firm (20/04/2012)

>   Copyright issues cloud software exports to US (20/04/2012)

>   CPI growth predicted at less than 0.1 pct (20/04/2012)

>   Car market: there are tens of thousands of sellers, tens of buyers (20/04/2012)

>   Vietnamese businessmen attempt to sell 2 coffee brands to Chinese (20/04/2012)

>   Foreign investment projects ‘require careful evaluation' (20/04/2012)

>   Provinces FDI firms hit $144m turnover (19/04/2012)

>   PM approves national strategy for sustainable development (19/04/2012)

>   Thai investors to seek opportunities in Hanoi (19/04/2012)

>   Japanese businesses eye Vietnamese market (18/04/2012)