The Ministry of Finance (MoF) is taking steps to stabilise domestic gasoline prices and supply while removing difficulties for petroleum traders, said Nguyen Tien Minh, Director of the MoF’s Price Management Department.
The Ministry of Industry and Trade (MoIT) has proposed a new price mechanism to adjust fuel prices every 5 days instead of the current 10-day cycle, or possibly every day to finally address a number of issues that resulted in sporadic fuel shortages across the country in recent months.
Indonesia's inflation rate in September soared to its highest since October 2015 due to higher transport costs following a fuel price hike, according to Statistics Indonesia.
Despite numerous difficulties coming from the domestic and international situation, the agricultural sector has managed to achieve important targets, and it still persists in this year’s agro-forestry-fishery export target of 50 billion USD as assigned by the Prime Minister.
Indonesian President Joko Widodo may announce a fuel price hike next week to reduce spending on energy subsidies, said Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan on August 19.
Indonesian Investment Minister Bahlil Lahadalia has said that Indonesians must prepare against a potential hike in fuel prices as the government looks to control its ballooning energy subsidies amid high global oil prices.
To deal with fuel prices, the Civil Aviation Authority of Vietnam (CAAV) just proposed raising air service prices on domestic routes to the Ministry of Transport (MoT).
About 80-90 percent of fixed-route transport firms have adjusted their fares up by 10-15 percent to offset mounting fuel costs, according to a Ministry of Transport (MoT) report submitted to the Prime Minister, assessing the impact of higher fuel prices.
The consumer price index (CPI) of Hanoi in the first quarter of 2022 rose by 2.66 percent against the same period last year, the municipal Statistics Office reported on March 29.
National Assembly Chairman Vuong Dinh Hue on March 16 suggested the Government set out clear scenarios to ensure energy safety and security, as well as fuel supply and demand in any circumstances.
Lao government is taking steps to rein in the rising price of fuel, easing the impact on the economy and the lives of residents, amid a volatile global market.
The fuel price stabilisation fund helps the central government manage domestic fuel prices for the foreseeable future, said Hoang Anh Tuan, Deputy Director of the Domestic Market Department under the Ministry of Industry and Trade, in a recent meeting with industry leaders.
The Ministry of Industry and Trade and Ministry of Finance on March 18 announced that petrol prices will be kept unchanged compared to the latest regular adjustment.
The prices of all kinds of fuel increased as from 15:00 of April 7 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade.
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.
Enterprises providing transport services and construction materials planned to increase charges following an increase in fuel prices on the domestic market recently.
Special consumption tax must be adjusted to avoid a serious budget deficit when fuel import tax is cut in line with various trade agreements Vietnam has signed.
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