New petrol decree to create competitive retail prices

The Government’s Decree 83 on petrol trading is expected to make retailed petrol prices competitive and nearer to the world prices, said Mr. Phan The Rue, chairman of the Vietnam Petroleum Association on September 19.

He was speaking at a meeting hosted by the association to propagate the decree which has been issued recently to replace Decree 84 in 2009.

According to the new decree, distributors can purchase petrol from several wholesale businesses at different prices, calculate and decide their own retail prices.

Mr. Rue said that the Vietnam’s petrol market is very potential because most filling stations are located in urban areas. The number is limited in mountainous regions.

With 90 million populations and economic growth rate of 5 percent per year, petrol growth in Vietnam should be 10 percent instead of only 7 percent as present, he added.

By Ngoc Quang – Translated by Hai Mien

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