The Ministry of Finance and the Ministry of Industry and Trade have issued a document requesting businesses to lower gasoline prices from 2p.m, July 28th, 2014.
Accordingly, businesses are allowed to use 600VND/liter from the Stabilization Fund (70VND/liter lower) but they have to lower gasoline prices in accordance with regulations.
For Diesel 0.05S and kerosene, the 2 Ministries required businesses to lower their prices according to the difference between the base price and the current price – with a base price of 22.334 VND/liter for diesel 0.05S and 22.464VND/liter for kerosene.
As for mazut oil, the price is suggested to be remained at the current level while at the same time stopping the usage of the Stabilization Fund (from 300VND/liter to 0VND/liter).
Taking the current prices of the Vietnam National Petroleum Group for reference, gasoline will see a minimum reduction of 325VND/liter, whereas that of diesel 0.05S and kerosene will both be 346VND/liter.
As calculated by the Ministry of Finance, the base price for gasoline is currently higher than the current price by 275VND while the base price of diesel and kerosene are lower than their current price by 346VND/liter.
Previously on July 18th, the 2 Ministries have requested gasoline businesses to not raise any products’ prices. By doing that, businesses were granted an additional usage of the Stabilization Fund by 170VND/liter (from 500 to 670VND/liter).
For diesel 0.05S and kerosene, the 2 Ministries requested businesses to lower the minimum prices according to the difference between base and current price, but not as high as prescribed (22.680 VND/liter for diesel 0.05S, 22.814VND/liter for kerosene).
Minh Anh
Đăng ký: VietNam News