petrol prices

Update news petrol prices

Rising petrol prices challenge inflation control efforts

The goal of maintaining inflation at 4% this year will be threatened unless viable solutions are introduced in a bid to rein in rapidly-increasing petrol prices, according to economic experts.

Petrol-and-oil import enterprises will face severe punishments for violations

Enterprises in charge of importing petrol and oil will be strictly punished, and could even be suspended from operating, if found to be illegally holding petrol and oil to sell at a higher price later.

Soaring energy prices put burden on VN businesses

Skyrocketing prices of petrol and coal in recent days have put great pressure on businesses whose inputs are mainly these products.

Residents change habits as petrol prices reach new highs

Increasing petrol prices caused by the Russia-Ukraine conflict have forced residents in major cities such as Hanoi and Ho Chi Minh City to change their behaviour in order to adapt to the new situation.

Petroleum supply faces tough challenges

The Ministry of Industry and Trade (MoIT) has instructed agencies to ensure the supply of petrol amid tight supply.

Petrol prices reach historic peaks: which tools should be used?

On February 21, petrol prices set a new record after the Ministry of Industry and Trade and the Ministry of Finance decided to increase the price of all kinds of petrol and oil.

Trade Ministry to inspect major fuel suppliers

The Ministry of Industry and Trade will launch unannounced inspections of major oil and petroleum suppliers amid fluctuations facing the fuel supply chain.

Fuel supply: retailers deny hoarding products for speculation purposes

The limited supply of fuel from NghiSon, the biggest refinery in Vietnam, is not causing the current petroleum shortage in the market, analysts say.

Petrol price at historic peak, Government urged to cut environmental protection tax

To force petrol prices down, the Government needs to cut the environmental protection tax rate, which is at the ceiling level.

Trade Ministry proposes opening fuel market to foreign retailers

The Ministry of Industry and Trade has sent the Government a draft decree amending and supplementing certain articles of Decree 83/2014 on petrol and oil trading, proposing allowing foreign investors to enter the country’s fuel retail market.

HCM City says petrol supply adequate to fully meet demand

The HCM City Department of Industry and Trade has assured there is an adequate supply of petroleum products to meet demand and it will prevent any hoarding of these goods.

 

Business wary of 2020 oil projections

While global oil supplies in 2019 were vulnerable, the fluctuations have not affected long-term petrol prices, yet business plans for some in the market in 2020 remain complicated.

Prices go up but rarely go down

 VietNamNet Bridge – Economic expert Ngo Tri Long spoke with Kinh te&Do thi (Economic and Urban) newspaper about transport firms who are always quick to increase their fares, but slow to let them fall again.

VN’s fuel prices cheaper than in neighbouring countries

 VietNamNet Bridge – Petroleum prices in Viet Nam are lower than those in its neighbouring countries like Laos, Cambodia, and even China, according to the Ministry of Industry and Trade (MoIT).

Transport prices fail to fall in step with petrol prices

 VietNamNet Bridge – Though petrol prices have plummeted since July, with the popular A92 petrol price down by over 30 per cent, transport tariffs have barely fallen.

Petrol prices cut to four-year low

 The national retail petrol prices yesterday were slashed by VND2,058 (US$0.09) per litre, the Viet Nam National Petroleum Group (Petrolimex) said.

Who benefits the most from lower oil prices?

 VietNamNet Bridge – The sharp falls in oil prices have not benefited the national economy, with the exception of Petrolimex, the petroleum importer and distributor.

BUSINESS IN BRIEF 8/11

Projects on Ly Son island prioritised; Retail petrol prices expected to fall further; Vietnam invests 19.1 billion USD abroad; Garment industry faces shortage in skilled workers; HCMC to become top garment, textile service center

BUSINESS IN BRIEF 30/7

 Ministry requires petrol prices cut on world downward trend; Vietnam enjoys US$1.26 bln Jan-Jul trade surplus; RoK – a leading foreign investor in Vietnam; Samsung Thai Nguyen rakes in US$2 billion from exports

Vietnam refines oil, but petrol prices still high

 VietNamNet Bridge – Vietnam continues to sell its high-quality crude oil at high prices and buy crude oil cheaply from other countries for its domestic refinery.