Vietnamplus

A major supplier in Laos has said that petrol supplies in this country may face “some gaps” after the government held an emergency meeting to address soaring prices and panic buying.

The retail prices of oil and petrol continued to rise from May 11 following the latest adjustment by the Ministry of Industry and Trade and Ministry of Finance.

Retail prices of oil and petrol were raised from 3pm on May 4 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

The consumer price index (CPI) in April rose 0.18 percent over the previous month and 2.64 percent year on year, according to the General Statistics Office (GSO).

The Ministry of Finance (MoF) has proposed the Government cut the most favoured nation (MFN) tariff for unleaded petrol from the current rate of 20 percent to 12 percent.

The retail prices of oil and petrol were adjusted up starting from 3pm on April 21 following the latest adjustment by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.

The retail prices of oil and petrol were adjusted down starting from 3pm on April 12 following the latest adjustment by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.

While the reduced environmental protection tax lowered petrol prices from April 1, most transport enterprises are struggling.

Retail petrol prices fell by more than 1,000 VND per litre from 0:00 on April 1 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Electric vehicles (EVs) are in the spotlight at the Bangkok International Motor Show 2022, which is underway in Thailand until April 3, amid rising petrol prices.

Environmental protection tax rates on fuels will be reduced from April 1 under the National Assembly (NA) Standing Committee’s resolution recently signed off by NA Chairman Vuong Dinh Hue.

Retail petrol prices reduced by more than 600 VND per litre from 3pm on March 21 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

In the face of soaring fuel prices, Minister of Industry and Trade Nguyen Hong Dien proposed several measures for stabilising the market in the long run while fielding queries from full-time legislators on March 16.

The National Assembly (NA) Standing Committee will raise questions on issues under the management of the Ministry of Industry and Trade and the Ministry of Natural Resources and Environment during the question-and-answer part of their ongoing ninth session.

The National Assembly (NA) Standing Committee has urged the Government to early issue a master plan on COVID-19 prevention and control for 2022-2023 to deal with many urgent issues such as COVID-19 test kit prices, the opening of tourism sector and the teaching activities amid the rising infection number.

Retail petrol prices continued to rise by nearly 3,000 VND (0.13 USD) per litre from 3pm on March 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Cuts of the special consumption and environmental protection taxes on petroleum may be a suitable solution to the current petrol price issue, according to economists.

Petrol prices continued to rise in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance on March 1, marking the fifth consecutive increase since December 25, 2021 with a total amount of around 4,000 VND.

With current supply capacity, the local shortage of petroleum will be soon resolved, and the supply and demand for the domestic market will be stable, according to Tran Duy Dong, Director of the Domestic Market Department, Ministry of Industry and Trade (MoIT).

Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund if petrol prices keep rising, said a leader from the Ministry of Industry and Trade (MoIT).