The complicate and unpredictable fluctuation of crude oil in the world market recently has pushed major importers in to difficuties, many of them said they are in losses.

Ministry of Finance has jointed with Ministry of Industry and Trade tracking and comparing the average price of 30 days (from 01.16.2012 to 14.02.2012) with average price of previous 30 days (from 12.17.2011 to 15.01.2012) to assess the situation and take measures to support petroleum businesses. The result showed the fuel price in the world market has increased by 3.14-6.47% in this time.

In detail, the average price of Ron 92 gasoline increased to USD123.74 a barrel from USD116.22 a barrel, ub by 6.47%; while diesel 0,05%S price up from USD127.07 a barrel to USD131.26 (3.3%); Kerosene price up to USD128.08 a barrel from USD124.18 a barrel (3.14%) and mazut price up to USD724.86 a barrel from USD693.6 a barrel (4.51%)

Basing on the input costs, include basic price and cost, the average prices of all petroleum were VND372-844 a liter higher than the current retail prices in the market.

Despite the petroleum prices in the world market keep soaring, but Misistry of Finance and Ministry of Industry and Trade has considered the factors and required major distributors to keep price as current. Both Ministries also use a tool to reduce import tax rates from 4% to 0% for gasoline products and from 5% to 3% for oil products in bid to ease the burden on major distributors.
 

source: Xangdau.net