Petrol management sees results: official
The petrol management of the Ministry of Industry and Trade (MoIT) and Ministry of Finance has seen positive results.
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The petrol management of the Ministry of Industry and Trade (MoIT) and Ministry of Finance has seen positive results.
The consumer price index (CPI) in Hanoi in January is estimated to see a 0.12 percent rise against the previous month.
The Consumer Price Index (CPI) in Ho Chi Minh City fell 0.03 percent in January, compared with the previous month.
Ministry of Transport will require transportation businesses to slash transport fees within five days of the fuel price reduction, a senior official from the ministry said.
Retail petrol prices continued to slid by 590 VND per litre as from 3 pm on January 19, the second consecutive cut since the beginning of the year.
Local retail petrol prices could be adjusted daily instead of every fortnight in the future, Do Thang Hai, Deputy Minister of Industry and Trade, said.
The Ministry of Transport has instructed relevant agencies to closely monitor fees charged by carriers to ensure the decrease in fuel prices is factored in.
Vietnam posted a 0.63 percent increase in the consumer price index (CPI) in 2015, the slowest since 2001 and much lower than the 5 percent target set by the National Assembly.
The prices of RON 92 petrol and E5 bio-fuel were reduced by 391 VND per litre as of 3 pm on December 18, the 5th consecutive cut and the 22nd adjustment so far this year.
The retail price of petrol fell by 770 VND to reach 17,230 VND (76 US cents) per litre on November 3, the Ministry of Industry and Trade (MoIT) said.
Hanoi’s consumer price index (CPI) for October showed an increase of 0.12 percent over the previous month and a year-on-year rise of 0.42 percent, according to the Hanoi Statistics Offices (GSO) .
Ho Chi Minh City’s CPI in September decreased slightly by 0.47 percent from August and 0.99 percent against the same month last year, the municipal Statistics Office announced on September 22.
Hanoi’s consumer price index (CPI) fell 0.1 percent in September compared to the previous month and up 0.34 percent from the same period last year.
Retail petrol prices were raised by 612 VND (0.027 USD) per litre as of September 18 following five price cuts in a row since July 4 with a combined reduction of 3,000 VND (0.133 USD) per litre.
The Ministry of Transport is investigating transport companies who have failed to lower prices amid a drop in petrol costs.
The retail prices of RON 92 and E5 petrol were reduced by 1,198 VND (0.05 USD) per litre as of 3 pm on September 3, marking the 15th price adjustment this year.
The prices of RON 92 petrol and E5 bio-fuel were reduced by 768 VND per litre as of 3 pm on August 19, the 14th adjustment so far this year.
Despite a loss in revenue, the Vietnam National Petroleum Group reported after-tax profits of 1.125 trillion VND (50.8 million USD) in the second quarter, an rise of 172 percent from a year earlier.
