Tuesday, 08/05/2012 20:57

Fuel firms earn big as import prices slump

With fuel prices on the global market continuing their downward trend, import prices from Singapore, Vietnam’s main fuel source, have also slumped, creating huge profits for local wholesalers.

WTI crude oil for June delivery yesterday settled around $97-98 a barrel in the US, remaining under the $100 mark since last weekend.

Brent crude oil also revolved around $112-113 a barrel, while the average figure in April was $120.4 a barrel.

Meanwhile in Singapore, A92 gasoline was imported at only $123.73 a barrel on the May 4 session, down by $7.63 a barrel compared to April’s average rate.

Similarly, the diesel oil import price dropped to $130.3 from $135 a barrel, while kerosene also slumped to $128.8 a barrel.

Consequently, local fuel importers have enjoyed high profits.

Input cost for A92 gasoline is now around VND22,200 a liter, while the retail price currently stands at VND23,800 a liter, which means a VND1,600 per liter profit.

Fuel experts said wholesalers have reaped profits of VND1,200-1,300 a liter over the last ten days.

vir

Other News

>   When state agencies “forget” projects in calculating FDI (08/05/2012)

>   Growth target under threat (07/05/2012)

>   Looser credit, lower inflation lifts shares (07/05/2012)

>   "Giving a kiss of life" would not be enough to rescue businesses (07/05/2012)

>   Tax relief proposed to revitalise economy (05/05/2012)

>   Double export turnover with Laos targeted (12/06/2012)

>   Inflation forecast to hit single digits (05/05/2012)

>   Import-export orders on the decrease, logistics firms have fewer jobs (05/05/2012)

>   Economy sees promising signs in first four months (04/05/2012)

>   Can Tho aims to be economic hub (04/05/2012)

Online Services
iDragon
Place Order

Là giải pháp giao dịch chứng khoán với nhiều tính năng ưu việt và tinh xảo trên nền công nghệ kỹ thuật cao; giao diện thân thiện, dễ sử dụng trên các thiết bị có kết nối Internet...
User manual
Updated version