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Review of policies for biofuel E5 RON 92 proposed

Saigon Petro Company Limited recently proposed policies for the development of E5 RON 92 to be reviewed over the significant declines in sales of this biofuel.
Review of policies for biofuel E5 RON 92 proposed ảnh 1Selling E5 bio-fuel at a petrol station on Thai Thinh street in Hanoi. (Source: VNA)

HCM City (VNS/VNA) - Saigon Petro CompanyLimited recently proposed policies for the development of E5 RON 92 to bereviewed over the significant declines in sales of this biofuel.

The company cited statistics showing that theproportion of E5 RON 92 biofuel in retail sales dropped considerably in recentmonths, from an average of 30.06 percent in 2018 to 25.58 percent in January,22.74 percent in February and 19.79 percent in March.

In the proposal submitted to the Ministries ofIndustry and Trade and Finance, the company said that the declining trend insales of biofuel E5 RON 92 was anticipated to continue.

The company attributed the decline in sales ofbiofuel E5 RON 92 to consumers still preferring petrol RON 95 to biofuel E5 RON92 over the thinking the former had better quality and safety.

The price of petrol RON 95 was only 1,530 VND perlitre higher than biofuel E5 RON 92, which was not enough to encourageconsumers to use the biofuel.

In addition, many petrol retailers now did notpay adequate attention to promoting the sale of biofuel E5 RON 92.

Saigon Petro said that it was necessary toreduce environment protection tax levied on biofuel E5 RON 92 to lower itsprice to promote consumption for the reason that biofuel was good for theenvironment. The reduction could be around 500-1,000 VND per litre to create aprice gap of around 2,000-2,500 VND between the two types of petrol.

Measures to encourage biofuel E5 RON 92 production,distribution and consumption must also be enhanced to reduce the unnecessaryuse of  petrol RON 95.

The company estimated that the use of petrol RON95 instead of biofuel E5 RON 92 caused a waste of around 400 billion VND permonth.

Hoang Long who bought biofuel E5 Ron 92 for hismotorbike at a petrol station in Hanoi, said that he did not care what type ofpetrol he bought, he chose the pump with the shortest queue.

Petrol RON 92 had been eliminated from themarket since the beginning of 2018 and replaced by biofuel E5 RON 92 in aneffort to protect the environment. Only petrol RON 95 and biofuel E5 RON 92 arenow available in the market.-VNS/VNA
VNA
# Saigon Petro Company Limited #E5 RON 92 #biofuel #policies for biofuel E5 RON 92 #decline in sales of E5 RON 92 #Vietnam petrol market #Vietnam economy #vietnam news agency #vietnamplus
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