The Ministry of Finance has told fuel wholesalers to limit their use of the price stabilisation fund from 300 VND to 200 VND per litre.

The decision was announced in Dispatch No14239/BTC-QLG on fuel price management, in which the ministry said it would keep fuel prices, import tariffs and deductions for the price stabilization fund unchanged.

Currently, the reference price of gasoline is 24,084 VND per litre, while the retail price is around 23,880 VND per litre.

Similarly, each litre of diesel and kerosene is now sold for 22,310 VND and 22,020 VND, while their reference prices are 22,902 VND and 22,934 VND respectively.

For diesel, the ministry has permitted fuel wholesalers to continue earning commissions of 100 VND per litre and charging 300 VND per litre to the price stabilisation fund to limit price increases.

Petrol hubs selling kerosene are expected to retain earnings of 100 VND per litre and reduce the use of the price stabilisation fund to 700 VND from 800 VND.

For mazut, traders will continue to take 200 VND per litre from the fund.

The price stabilisation fund was reported to be sitting at 58.6 billion VND (2.7 million USD) at the end of September, after rising over 3 billion VND (141,911 USD), the Ministry of Finance stated on its website.

According to the latest statistics, of the 12 petrol dealers who contributed to the fund, six had a positive fund balance. Petrolimex's September balance stayed over 205 billion VND (9.7 million USD), while the Military Petroleum Corporation with over 180 billion VND.

Meanwhile, as of September 30, PVOil reported a negative fund balance of more than 209 billion VND (9.88 million USD), while Petec Trading & Investment Corporation also saw a loss of over 145 billion VND (6.86 million USD).

Recently, Minister of Finance Dinh Tien Dung stated that the ministry would publish data on a quarterly basis rather than each month to minimise costs to relevant agencies.-VNA