The Ministry of Finance (MoF) on November 12 requested petroleum retailers not to raise prices by using petrol stabilization fund.
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The regulation will take effect since November 13, 2010 and expire when the MoF makes new report.
Accordingly, enterprises will receive VND 1,200 instead of VND 500 as subsidy for selling one liter of petrol.
A liter of diesel, kerosene and mazut will be subsidized VND 1,000, VND 1,200 and VND 700 respectively.
This is the second time the MoF decided to use the petrol stabilization fund to curb rising prices of petroleum.