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3.97 trillion VND in national fuel price stabilisation fund

VNA Print

Illustrative image (Source: VNA)
Hanoi (VNA) – The national fuel price stabilisation fund had over 3.97 trillion VND (180.4 million USD) as of December 31, 2015, according to the Finance Ministry on February 2.

By January 1, 2015, the balance was over 4 trillion VND (181.8 million USD).

The ministry reported that among 21 fuel trading firms, 17 recorded positive balances in their own stabilisation funds.

The Vietnam National Petroleum Group (Petrolimex) has the largest balance with 2.377 trillion VND (108 million USD), followed by the Military Petroleum Corporation that possesses more than 389 billion VND (17.68 million USD).

The PetroVietnam Oil Corporation posted over 325 billion VND (14.7 million USD) while Saigon Petro had more than 291 billion VND (13.2 million USD).

The Nam Viet oil refinery and petrochemicals company took the lead in running a negative balance, amounting to over 25 billion VND (1.13 million USD)

Last year, there were 23 adjustments to fuel prices with more decreases than increases. Specifically, petrol prices had 12 decreases, six increases and stayed the same five times, Deputy Minister of Industry and Trade Do Thang Hai told the media.-VNA
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