Local fuel prices surge
HCMC – Domestic fuel retail prices were adjusted up by nearly VND1,000 per liter at 7 p.m. yesterday, January 30, according to an announcement jointly released by the ministries of Industry-Trade and Finance. RON 95-III gasoline, the most popular type of gasoline in Vietnam, is priced at VND23,140
Finance Ministry wants to stay away from fuel pricing role
HCMC – The Ministry of Finance (MOF) has written to the Ministry of Industry and Trade (MOIT), saying it does not want to carry the ball over fuel pricing regulation. In a draft decree amending Decree 95/2021 and Decree 83/2013 on fuel trading and pricing management, the MOIT proposed three
Diesel down, gasoline unchanged
HCMC – The retail price of gasoline was kept unchanged while diesel oil and kerosene were revised down, according to an announcement jointly released by the ministries of Industry-Trade and Finance today, January 11. This is the third price adjustment since the start of 2023. Bio-fuel E5 RON92
Fuel traders in HCMC to be inspected in June
HCMC – The market surveillance authority in HCMC will inspect 91 gas stations operated by more than 50 fuel trading firms citywide in June this year, according to the Market Surveillance Department of HCMC. Market surveillance teams will look into these businesses’ compliance with laws and
Fuel prices expected to inch down tomorrow
HCMC – Gasoline prices are expected to drop VND100 per liter from tomorrow, January 11, a HCMC fuel supplier said. An executive of a petrol company based in Hanoi also made the same prediction, with gasoline prices remaining stable and diesel oil possibly edging down to below VND21,000 per liter.
Shorter fuel price adjustment cycle proposed
HCMC – The Ministry of Industry and Trade (MOIT) has proposed shortening the fuel price adjustment cycle to seven days from the current 10. Fuel prices would be revised every Thursday, except for the first three days of Lunar New Year, the ministry said in its draft decree amending and
Fuel prices rise again after four cuts
HCMC – After dropping four times in a row, fuel prices saw an uptick yesterday, January 1. RON 95-III now sells for VND21,800 per liter, up VND1,100 against the earlier session, and E5 RON 92 is priced at VND21,020, increasing nearly VND1,050. Diesel oil rose by VND550 to VND22,150 per liter,
Vietnam’s CPI inches up 3.15% in 2022
HCMC – Vietnam’s consumer price index (CPI) in 2022 rose 3.15% year-on-year, lower than the National Assembly target of 4%, according to the General Statistics Office (GSO). Fuel prices left a significant impact on the CPI. In specifics, 34 fuel price adjustments in the year resulted in domestic
Top 10 economic events of 2022
HCMC – Here’s a look back at 10 key economic events in Vietnam in 2022 selected by Kinh Te Saigon Online, a publication of the Saigon Times Group. Real estate market with bad records in 2022 The real estate market was known for its bad records in 2022, including inventory at a record high,
Fuel supply estimated to surge 10-15% in 2023
HCMC – The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media. In the first scenario, the total fuel supply should reach 25.9 million cubic
Four rates of environmental protection tax on fuels proposed for 2023
HCMC – The Ministry of Finance has proposed applying four rates of environmental protection tax on fuels in 2023 depending on global prices. When the global oil price is below US$70 a barrel, the tax rates would reach the ceiling level of the tax bracket, which is VND4,000 per liter on gasoline,
Gasoline prices move sideways, oil prices down slightly
HCMC – Domestic retail prices of gasoline saw little change versus 10 days ago, while the prices of oil products, except for heavy fuel oil, fell slightly starting at 3 p.m. today, according to an announcement jointly issued by the ministries of Industry-Trade and Finance. The current price of