The Ministry of Finance has decided not to cut petroleum prices despite the falls in world prices, one official said.
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| Petroleum prices are kept unchanged |
According to the ministry, after slight price falls in the world market recently, prices rebounded to USD124.34 per barrel of 92 octane gasoline (A92) on October 8.
Domestic petroleum prices now average at USD122.85 per barrel of A92, USD131.56 per barrel of diesel 0.05S, USD131.38 per barrel of kerosene and USD673.74 per tonne of fuel oil, the ministry said.
This means that the imported petroleum prices are still VND500-VND800 per litre higher than the current domestic retail prices, they said.
Tuan said that the Ministries of Finance, and Industry and Trade would continue the subsidy of VND500 per litre of petroleum products from the petrol price stabilisation fund in order to offset the price disparity.
Currently, petrol products are sold at VND23,650 per litre of A92, VND21,850 per litre of diesel 0.05S, VND21,900 per litre of kerosene, and VND18,650 per kilo of fuel oil.
