Saturday,  Jul 21, 2018,18:29 (GMT+7) 0 0
Fuel price stabilization fund tapped despite fuel price fall
By Tam An
Friday,  Jun 22, 2018,18:36 (GMT+7)

Fuel price stabilization fund tapped despite fuel price fall

By Tam An

Fuel prices slump but traders are allowed to tap into the fuel price stabilization fund - PHOTO: MT

HCMC – The Ministries of Industry-Trade and Finance have announced a reduction in retail fuel prices, scheduled to take effect at 3 p.m. on June 22. However, retail outlets will be allowed to tap into the fuel price stabilization fund.

Despite the price drop, fuel wholesalers will still be permitted to use the fund to compensate for the gap between the new base and retail prices in the 15-day period since June 6. This means consumers will have to inject money into the fund, at hundreds of Vietnamese dong per liter.

The retail price of RON95-III has been revised down by VND334 per liter to a maximum of VND21,177 per liter. The outlets rounded down the price, at VND21,170 per liter.

The E5 RON92 bio-fuel petrol price dropped by VND330 per liter to VND19,610 per liter, while the price of diesel oil fell to VND17,460 per liter, down VND230 per liter.

The fuel traders will be permitted to obtain VND870 per liter of E5 RON92 bio-fuel petrol and VND198 per liter of the gasoline RON95, while diesel and kerosene oil cannot be subsidized with the fund.

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