Two ministries include Ministry of Industry and Trade, and Ministry of Fininance are watching closely fluctuations of fuel price in the world market in order to make decision for domestic price. Ministries also consider to raise import tax rates of fuel.

According to source from Ministry of Finance, revealed ministries have to consider carefully about retail price of fuel because price in the world market has rebounced recently after slumped beforely.

In Singapore, the main import fuel market of Vietnam, fuel price has fluctuated in the early June. After slumped in June 4th, RON 92 gasoline has recovered about USD2 to USD106.81 a barrel in June 5th. Other products also increased by USD1.2-2.2.

After deduction of taxes, fees and commissions.... distributors make a profit of VND1,000 a liter of gasoline. So Ministries are considering to opt either price decrease of VND800 a liter or import tax increase of 2-5%.

However, most of distributors agree to lower retail price for domestic market

In the early this year, A92 gasoline price has increased twice with a total of VND3,000 a liter, and also reduced twice only VND1,100 a liter total.

Xangdau.net