Local Oil Price Stands Still

Though the global oil price is surging, the local price is not changed (Photo: T.C.).

Petrolimex (Viet Nam National Petroleum Corporation) is suffering a loss of VND24 billion everyday because of global oil prices increase to nearly US$70 per barrel on April 11, 2006.

The Pricing Bureau (under Ministry of Finance) is closely observing the oil price movement to timely put out appropriated adjustments, according to Mr. Nguyen Tien Thoa, Deputy Chief of the Bureau.

He also affirmed that the Ministry of Finance did not plan on any change of the local oil price so far.

Nguyen Quoc – Translated by Hoang Uy

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