Tuesday,  Sep 25, 2018,09:48 (GMT+7) 0 0
Fuel base price to be calculated in line with current regulations
The Saigon Times Daily
Friday,  Jan 12, 2018,21:34 (GMT+7)

Fuel base price to be calculated in line with current regulations

The Saigon Times Daily

HCMC – The upcoming base prices of fuel prices will be calculated in line with the Government’s Decree 83/2014/ND-CP on oil and gas trade, and relevant documents, said Deputy Prime Minister Vuong Dinh Hue at a meeting with the Ministries of Trade-Industry and Finance on January 11.

The deputy PM asked the ministries and relevant agencies to keep a close eye on sales of the gasoline RON 95, a higher-grade type of fossil gasoline, and the bio-fuel E5 RON 92 – a mixture of 95% RON 92 gasoline and 5% ethanol, which meet the Euro 3 and 4 emissions standards in the first quarter of this year.Then, they will work together to calculate the base prices of fuel prices in accordance with market conditions, and prevailing regulations.

He also demanded the ministries adjust the prices of RON 95 gasoline, E5 RON 92 bio-fuel, and other fuel products by harmoniously tapping the fuel price stabilization fund.

The ministries and agencies involved were told to raise public awareness of the bio-fuel’s benefits so that the product would win customer trust,strengthen fuel quality inspections and prevent trade fraud, as well as guarantee sufficient materials for producing the bio-fuel.

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