Retail price of gasoline in the domestic market has increase another VND426 a liter in the last weekend to VND23,756 a liter.
According to an annoucement from Ministry of Finance, major distributors of fuel were allowed to lift about VND426 a liter for gasoline and VND221 a liter for diesel to VND23,756 a liter and VND21,471 a liter, respectively. Other fuel products such as kerosene and mazut still kept prices to flat. The new prices began to take effect from 20h pm Friday, last week (14/06/2013).
Beside that, Ministry of Finance, and Ministry of Industry and Trade also agreed to adjust price from the Stabilization Fund. Accordingly, price from the Stabilization Fund will be lowed to VND300 a liter from VND400 a liter for gasoline and diesel, while cut to VND100 a kg from VND160 a kg for mazut. Particularly for kerosen, price from the Stabilization Fund will be hiked to VND300 a liter from VND290 a liter previously.
As explained by the Price Management Agency, Ministry of Finance has cut import tax of fuel to 18% from 19% and permitted major distributors to increase price from the Stabilization Fund by VND160-400 a liter when fuel prices in the globle market went uptrend in early May. However, the uptrend of price still keeps to now, so retail prices of fuel continued to ajdust in order to balance the interests of the parties as well as ensure to operate prices under the market mechanism
Souce: Xangdau.net
