Recently, four distributors have sent a proposal to government to increase fuel price, but whether retail gas prices will rise for the second time since early this year or not?

As Ms Vu Thi Mai- Deputy Minister of Ministry of Finance said in March 7th: ”If international price increase, price in domestic market also follow. If internation decrease, government will recover import tax at moderate level and reduce to withraw money from Stabilization Fund”.

At that time to late March, fuel price in the world market was constantly fluctuating. In Singapore market, the average price of RON 92 gasoline was USD134.48 a barrel in March, up USD5.85 a barrel (4.55%) compared with the previous month.

But in the first half of April/2012, crude oil prices continued to rise and then fall slightly. Accordingly, the prices of petroleum products in Singapore market followed the trend of crude oil prices in the world market, but not much. For instance: RON 92 gasoline just reduced by 0.11%, 0.9% for kerosene and 1.16% for FO.

With the fluctuation of world prices, Finance Ministry said four major importers have just sent a proposal of price increase to Ministry. They are including Vietnam National Petroleum Corporation (Petrolimex), Vietnam Oil Corporation (PV Oil), Saigon Petroleum One Member Limited Company (Saigon Petro) and Dong Thap Commercial Petroleum One Member Limited Company (Petimex).

Talking to VnEconomy, Mr. Le Thanh Man, The Sale Manager of Petimex said his company this week has sent a proposal to Finance Ministry to increase fuel prices. The average price of 30 days, plus inventory, price differences between basic price and retail price are putting Petimex in loss, about VND1,000 a liter for gasoline and VND200 a liter for kerosene after deducted amount of money from Stabilization Fund", he explains.

The Ministry of Finance replied us that they are considering and will answer us as soon as possible, Mr Man added.

Xangdau.net