Finance Ministry says cut transport fees hinh anh 1Container trucks loaded with agricultural produce wait for customs clearance in the northern province of Lang Son. (Source: VNA)

The Ministry of Finance has sent a document to provincial departments of finance to improve the management of transport fees, as well as prices of essential goods, to prevent price increases.

The ministry said the move aimed to stabilise prices amid decreases in petrol costs.

It added that fuel prices have been managed flexibly under the market mechanism and during the downward trend, causing positive affects to the economy.

In addition, the central bank's move to widen the dong's trading to minimise the negative impact of China's currency devaluation would also affect imported and exported products.

Accordingly, the ministry asked relevant authorities to actively follow changes in market supply and demand, goods prices from both inside and outside the country, while collecting, analysing and implementing forecasts to take actions for stabilising prices.

Authorities were also asked to strengthen inspections and monitoring of the management of prices, taxes and fees for essential goods and services, such as transport costs, milk for under six year-old children, medicines, cement, construction steel and liquified petroleum gas.

Further, localities should carefully review price and price constituents of goods that are directly affected by petrol prices.

The ministry required the departments, in cooperation with departments of transport, to ask transport firms to announce fares based upon recent petrol price decreases.

The retail price of RON 92 petrol was reduced by 816 VND to 19,304 VND (88 US cents) per litre on August 4. This was the fifth reduction in petrol prices this year.

After five reductions, the petrol price was reduced by 3,600 VND per litre.-VNA