New regulations on petrol and oil trading
Wholesale enterprises are allowed to administer the fuel price valorization fund, but they have to make regular contributions to the fund at VND 300 per liter.

The Ministry of Industry and Trade and the Ministry of Finance issued in late October a joint circular detailing the method of calculating a base fuel price and mechanisms for establishing, managing and using the fuel price valorization fund.Under Joint Circular No. 39/2014/TTLT-BCT-BTC, enterprises may adjust the fuel trading cost from VND 860 per liter of petrol, VND 860 per liter of diesel or kerosene and VND 500 per liter of fuel oil to VND 1,050, VND 950 and VND 600, respectively.

Fuel prices reduced on November 7, 2014__Photo: Internet

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