June 3, Ministry of Industry and Trade There was a response to the press information published “Price is only 13,000 VND / liter, Malaysia wants to export gasoline to Vietnam”.
According to the Ministry of Industry and Trade, in the structure of gasoline prices Currently in Vietnam, taxes and fees account for about 30-32% (equivalent to 10-11 thousand VND/liter). Thus, without taxes and fees, the price of gasoline in Vietnam would be about 20 thousand VND / liter (equivalent to 0.86 USD / liter).
The price of RON95 gasoline in Vietnam is currently more than 31,000 VND/liter
Malaysia is a major petroleum producer and petroleum exporter. In Malaysia, the State does not levy taxes on domestically consumed petrol and at the same time the Government has a policy of subsidizing prices for domestic consumption of petrol for the people. Currently, the Malaysian Government is subsidizing RM 1.65 equivalent to USD 0.4 per liter of RON95 gasoline and RM 1.85 equivalent to USD 0.45 per liter of diesel.
The Ministry of Industry and Trade said that without government subsidies, Malaysia’s petrol price would be equivalent to petrol prices in Vietnam if Vietnam did not impose taxes (if not subsidized and still did not impose taxes and prices). RON95 gasoline in Malaysia will currently be 0.87 USD/liter, while the price in Vietnam if excluding taxes and fees is about 0.86 USD/liter).
“Malaysia’s subsidy policy only applies to locals, even foreigners in Malaysia have to buy unsubsidized petrol, so Malaysia’s exported petroleum is also sold at the common market price of the region. For example, in Singapore, a major petroleum exporter in Asia, gasoline prices are also quite high, Singapore’s RON95 gasoline price is currently at $2,315 per liter (equivalent to about 54,000 VND per liter).” – The Ministry of Industry and Trade stated.
According to this agency, in recent times, some domestic enterprises still import gasoline from the Malaysian market at the same price as those imported from Asian markets such as Singapore (according to the MOP’s price, which is the average price of petroleum products). daily published by Singapore’s Platt news agency).
Currently, the Ministry of Industry and Trade is asking the Vietnamese Ambassador to Malaysia to have information to clarify more about the contents stated in the press.
Sharing more about this content in the corridor of the National Assembly on June 3, delegate Hoang Van Cuong (Hanoi delegation) said that stabilizing gasoline prices needs to be implemented through many methods, including increasing fuel sources. supply, reducing taxes and fees.
According to Mr. Cuong, when the domestic supply is proactive and guaranteed from the refinery and petrochemical plants, the reserves increase, it is possible to limit the effects of external fluctuations.
“If there are imported sources with suitable prices, it is a measure to ensure supply. There is no reason when domestic gasoline prices are high, but we have sources to import at preferential prices without counting. to that part,” said Mr. Cuong, but added that Vietnam has its own policy of regulating petrol prices, not following the stereotypes of other countries’ policies.
Previously, the press agencies informed that at the seminar “Promoting exports to the Malaysian market and Muslim countries” organized by the Center for Trade and Investment Promotion of Ho Chi Minh City on June 2, Mr. Viet Thai, Ambassador Extraordinary and Plenipotentiary of Vietnam in Malaysia, said that the Vietnam Trade Office in Malaysia is ready to support and connect Vietnamese businesses to import petroleum from Malaysia to stabilize the domestic market.
According to Mr. Tran Viet Thai, the price of gasoline in Vietnam is already 31,573 VND/liter, while RON 95 petrol in Malaysia is subsidized by the government for the price of 13,000 VND/liter for people.
At the latest operating period on June 1, the domestic price of E5RON92 gasoline increased by 600 VND/liter, priced at 30,230 VND/liter; RON95 gasoline increased by 920 VND/liter, priced at 31,570 VND/liter.
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