Ministries instruct dealers to keep petrol, oil prices steady

The ministries of Finance and Industry and Trade yesterday asked dealers not to raise retail prices for petrol, oil and kerosene even though they might face losses.

According to the finance ministry, for about one month, dealers have been losing VND228 on every litre of petrol sold and between of VND52-VND162 per litre of kerosene.

The ministry said dealers could continue using the price stabilisation fund to cover their losses.

This would continue to give them VND200 per litre for petrol products.

The ministry also extended use of the fund to mazut oil used in industry, subsidising it by VND160 per litre.

Meanwhile, the dealers were also told to cut rate of using the fund from VND180 per litre to VND90 for diesel oil and from VND160 per litre to VND60 for kerosene.

The dispatch came into effective at 2pm yesterday.

The current retail prices on the domestic market are VND24,900 (US$1.19) for a litre of A92 petrol, VND22,680 for a litre of diesel oil and VND22,480 a litre for kerosene.

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