Gas and oil prices in the world market continued to decline in recent days.

According to source from Petrolimex’s website, petroleum prices from Singapore, a major import market of Vietnam, still has been keeping downward trend since 5th May.

In detail, Ron 92 gasoline has retreated to USD122.75 a barrel, kerosene downed to USD126 a barrel and DO 0,05S lowered to USD127.44 a barrel, closed to the prices in the first half of February.

In the first half of February, price of those were at USD125,94 - USD130,11 and 133,03 a barrel respectively. While retail prices of those products were at VND20,800 - VND21,400 and VND20,800 a liter.

Talking to Saigon Economy Times in 8th May, an official from a major distributor confirmed that his company is making profit of VND500 a liter for gasoline now (not include VND300 a liter of fixed profit). Thank to good business, his company sometime has increased discount for customer to VND600-650 a liter, even VND700 a liter in recent days.

Some distributors also decreased retail price by VND200 a liter for petroleum products, he added. But his company has not yet hurry to request the government to adjust price down because company wants to compensate the loss in the late last year.

Currently, there is no management agency commenting for retail price reduction.

Xangdau.net