Ministry instructs increase of petrol price stabilization fund

The Ministry of Finance on February 27 said that they have sent a document to businesses asking them not to increase gasoline prices and contribute another VND1,000 for every liter sold towards the price stabilization fund.

Ministry of Finance orders businesses to contribute an extra of VND1,000 for a liter of gasoline sold towards the price stabilization fund (Photo: VNA)

The ministry also decided not to raise the import tariff and proposed businesses to share difficulties with the State and consumers.
Enterprises have also been asked to contribute an extra of VND400 for per liter of diesel sold to the price stabilization fund, VND450 for per liter of kerosene and VND50 for a kilogram of engine oil.

They have already donated VND1,000 for a liter of gasoline, VND400 to diesel, VND700 to kerosene and VND600 to engine oil to the fund now.

According to the Finance Ministry, the domestic retail price is VND2,000 lower than China’s, VND4,000 lower than Laos’ and VND5,300 lower than Cambodia’s.

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By N.Quang – Translated by Hai Mien

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