The Ministry of Finance has ordered petrol retailers not to increase petrol and oil prices over the next few days.
In Official Letter 3500/BTC-QLG, the ministry called on retailers to closely monitor movements in world petrol and oil prices, while continuing to cut transport costs. The ministry also asked retailers to ensure there was enough petrol and oil for domestic consumption.
If retailers wish to raise petrol and oil prices, the ministry said they must first get official approval from the ministries of Finance and Industry and Trade.
Dealers must also reduce domestic retail prices if world oil and petrol prices fall, the ministry said.
The ministry’s letter was issued after oil and petrol retailers intimated that they wanted to increase prices to cut losses because world oil and petrol prices had risen./.
In Official Letter 3500/BTC-QLG, the ministry called on retailers to closely monitor movements in world petrol and oil prices, while continuing to cut transport costs. The ministry also asked retailers to ensure there was enough petrol and oil for domestic consumption.
If retailers wish to raise petrol and oil prices, the ministry said they must first get official approval from the ministries of Finance and Industry and Trade.
Dealers must also reduce domestic retail prices if world oil and petrol prices fall, the ministry said.
The ministry’s letter was issued after oil and petrol retailers intimated that they wanted to increase prices to cut losses because world oil and petrol prices had risen./.
