Deputy Prime Minister: Oil and gas management must be close to world fluctuations
Deputy Prime Minister Le Minh Khai asked the Ministry of Industry, Trade and Finance to regulate domestic gasoline prices which are closely linked to world prices of finished products.
Today, Deputy Prime Minister Le Minh Khai directed the two ministries of Industry and Trade and Finance to closely coordinate in managing gasoline prices. Operations must comply with regulations and keep domestic retail prices close to world finished product prices.
Gasoline prices have recently fluctuated strongly with 6 consecutive gains and 1 decline since the start of the year. In early March, domestic retail gasoline prices rose to highest in history, almost 30,000 VND per liter. However, until March 21, the price of this item is only slightly reduced by more than 600 dongcurrently 29,190 VND per liter of gasoline RON95, 28,330 VND per liter of E5 RON92…
Last week, at the question and answer session of the National Assembly Standing Committee, Mr. Tran Van Sau (Dong Thap delegate) questioned whether there are contradictions and “who bears” losses during the March 11 operating period, the average price Compared to the beginning of 2022, some finished oil products in the world fluctuated 44-60%, but gasoline prices domestic only rose 25-40%.
In addition to requiring gasoline prices to be close to world prices, the Vice Minister of Transportation also suggested the rational use of the Price Stabilization Fund. Issues beyond their competence, Deputy Prime Minister said that inter-ministerial agencies can report it to the Prime Minister and Government.
In response to a question before the Standing Committee of the National Assembly last week, Minister of Industry and Trade Nguyen Hong Dien said that domestic prices increased due to rising world prices. Over many periods of operation, operators have cut 500-1,500 VND per liter of gasoline and oil depending on the type. Without these funds, Pak Dien said, “we cannot have a lower price than the world”.
The minister also said it would work closely with the Ministry of Finance to calculate and use tools to raise domestic prices lower than world prices and at “acceptable” levels. But in the event that if all the means of price stabilization are exhausted, but world price movements are still increasing, then in order to “control” price increases at home, it may be necessary to use welfare funds to support poor people, businesses and industrial enterprises that use a lot of petroleum. .
Today, the Standing Committee of the National Assembly has agree to reduce taxes The environmental cost of gasoline is 2,000 VND per liter of oil is 1,000 VND, kerosene alone is 300 VND per liter, as proposed by the Government. This tax reduction will take effect from April 1 until the end of this year. So, starting early next month, every liter of gasoline will be reduced by 2,200 VND, oil 1,100 VND (including VAT).
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