Within a month, many major fuel distributors have been discounting about VND700-750 a liter for retailers, higher than the current level prescribed by Ministry of Finance.
Talking to Sai Gon Economic Times Online, an official from a major distributor in south of Viet Nam revealed on november 21st that, the discount of his company in being time is VND700-750 a liter (delivered at the warehouse), even at VND800 a liter at some distributors.
He also confirmed the discount has been being applied for this month since Ministry of Finance reduced the fixed profit and Ministry of Industry and Trade cut retail price of fuel in domestic market in November 11th.
In the fact, according to some distributors, the discount of VND600 a liter as prescribed by Ministry of Finance do not attract retailers, so distributors have to deduct VND300 from their fixed profit and transfer it to retailers.
Depending on the calculation of the financial Ministry, distributors are making profit for VND150 a liter of diesel and VND100-200 a liter of gasoline when import prices of them are USD124.82 a barrel and USD114.80 a barrel respectively. But now we are not making any profit since import prices increased recent days.
Xangdau.net
