Politics

8 trillion VND advanced to petrol price stabilisation fund

Under the decision, the allocation will be sourced from the central budget revenue surplus recorded in 2025 and assigned to the Ministry of Industry and Trade.

Workers are operating the petroleum supply system at PV Oil Nha Be (Ho Chi Minh City), a subsidiary of Petrovietnam Oil Corporation, a major supplier to the domestic petroleum market (Photo: VNA)
Workers are operating the petroleum supply system at PV Oil Nha Be (Ho Chi Minh City), a subsidiary of Petrovietnam Oil Corporation, a major supplier to the domestic petroleum market (Photo: VNA)

Hanoi (VNA) - Prime Minister Pham Minh Chinh has issued Decision No. 483/QD-TTg approving an additional 8 trillion VND (303.74 million USD) from the 2026 State budget estimate for advance funding for the fuel price stabilisation fund.

The decision followed a proposal from the Ministry of Finance to help stabilise domestic fuel prices.

Under the decision, the allocation will be sourced from the central budget revenue surplus recorded in 2025 and assigned to the Ministry of Industry and Trade.

vnanet-potal-bo-cong-thuong-trien-khai-nhieu-giai-phap-nham-on-dinh-xang-dau-trong-nuoc-8660565-1.jpg
Petroleum import activities at Hai Phong port (Photo: VNA)

The PM requested the two ministries to take full responsibility for the accuracy of reported data and ensure strict compliance with regulations, while strengthening inspection and supervision to prevent misconduct, corruption, wastefulness, and policy abuse.

The Ministry of Industry and Trade was tasked with implementing the advance funding, managing and supervising the use of the fund in accordance with regulations, and developing fuel price management scenarios.

The ministry must also ensure the advance is repaid to the state budget within 12 months of disbursement, once market conditions stabilise.

The decision takes effect from the date of signing./.

VNA
#Prime Minister Pham Minh Chinh #fuel price stabilisation fund #fuel prices #fuel crises #Middle East conflict
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