Vietnamplus

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.

The prices of petrol and oil increased as from 15:00 of May 23 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade.

The Dung Quat Oil Refinery (BSR) in the central province of Quang Ngai, the first oil refinery in the country, has been recognised among the top ten eco-friendly factories in Vietnam this year.

Wholesale petrol traders should make more efforts to raise the market share of bio-fuel E5 in the country, said Deputy Minister of Industry and Trade (MoIT) Do Thang Hai.

The Ministry of Finance has proposed raising environmental protection taxes on oil and petroleum products from the current 3,000 VND to the ceiling level of 4,000 VND per litre beginning July 1, 2018.

The price of RON 95 petrol declined by 400 VND per litre from 15:00 on February 21 as decided by the Ministry of Industry and Trade and the Ministry of Finance.

The number of local consumers using E5 petrol in their autos has been increasing rapidly, though bio-fuel has only been put into use nationwide for just the past month.

The prices of all petrol and oil will be kept unchanged in the latest regular adjustment of petrol and oil prices on February 3.

PetroVietnam Oil Corporation (PVOIL) has announced Lunar New Year promotional prices at its more than 540 petrol stations nationwide for February 1 and 2.

The price of bio-fuel E5 increased by 429 VND while those of diesel 0.05S and kerosene increased slightly by 430 VND and 448 VND per litre, respectively in the latest regular adjustment of petrol and oil prices on January 19.

The quality of E5 bio fuel in Vietnam is ensured and meets international standards. All features, capacity and fuel consumption remain the same, and in some criteria E5 is better than RON 92, officials said.

Many motorbike owners are still unsure if the new E5 fuel being sold nationwide suits their vehicles, and authorities need to improve public awareness accordingly, officials admit.

The Vietnam National Petroleum Corporation (Petrolimex) officially started selling diesel oil with Euro 5 standard and Euro 4-standard RON95 petrol nationwide from January 1, 2018.

Ho Chi Minh City is a major greenhouse gas emitter in Vietnam as it contributes some 20% to the national total carbon dioxide emissions. Notably, transportation is behind half of the city’s emission.

The Vietnam National Petroleum Corporation (Petrolimex) and PetroVietnam Oil Corporation (PVOil) on December 15 officially supplied E5 RON92 bio-fuel for sale nationwide to replace RON 92 petrol, 15 days before a Government deadline.

Southern cities and provinces are ready to switch from the RON92 grade petrol to E5 biofuel starting next year, but concerns remain over its pricing and consumer preference.

The Ministry of Industry and Trade and the Ministry of Finance decided to increase the retail price of RON 92 petrol by 434 VND to a maximum of 18,580 VND (0.82 USD) per litre from 3:00pm on November 20.

The Ministries of Industry and Trade, and Finance decided to increase the retail price of RON 92 petrol by 271 VND to a maximum of 18,146 VND (79.8 US cents) per litre from 3pm of November 4.

There are only two months left until January 1, 2018, the date set for the nation to switch from RON A92 petrol to bio-fuel E5, but the plan is facing problems.

The Ministry of Finance has proposed to lower import tax on bio-fuel ethanol from 20 to 17 percent so as to make E5 petrol cheaper.