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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
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28.9 C
Ho Chi Minh City
Friday, July 18, 2025

Finance Ministry proposes eliminating fuel price stabilization fund

The Saigon Times

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HCMC – The Ministry of Finance has proposed the Government eliminate the fuel price stabilization fund so that fuel prices can be fully regulated by market forces.

The ministry is working with the relevant ministries and agencies over the draft amended Law on Prices, in which the ministry suggested the Government decide on the list of goods and services eligible for the price stabilization program in line with the law, the local media reported.

According to the Ministry of Finance, price stabilization is a solution to deal with price fluctuations.

At present, the fuel price stabilization fund is not included in the State budget plan and is a factor for determining the base prices of products. The fund is used to stabilize the market and fuel prices.

However, if needed, the Ministries of Industry-Trade and Finance will adjust the fund extraction levels and time in line with the market developments.

As global fuel prices have surged, the two ministries have extracted VND100-1,500 from the fund for each liter or kilogram of fuels to control fuel prices.

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