Ministry keeps retail petrol prices steady

Vietnam’s Ministry of Finance (MOF) has ordered petrol businesses to maintain stable retail prices for gasoline and diesel fuel in the wake of a recent petition by companies to raise their rates. The price of a liter of A92 petrol and diesel fuel will remain at 11,000 dong (US$0.63) and 10,500 dong (US$0.60), respectively. However, to help offset their losses, the ministry repealed the February and March 1,000 dong (US$0.06) per liter payment the companies were required to make to the state budget. The MOF also said it would consider reducing the 25% import tariff on fuel to 20%, effective the first week of March. (February 23, 2009)