At the press held by Ministry of Industry and Trade in march 5th, afternoon, Mr vo Van Quyen, head of Domestic Market Department said that almost basic prices of petrol products currently are higher than retail prices, so government need have some measures to operate prices appropriate with trend of market mechanism, but still controll inflation, social welfare and macroeconomic.

Mr Quyen also pressed that if let petrol prices soar will push inflation to escalate, but if keep price unchange will put distributors into losses. Ministry of Finance will hold a meeting to discuss about tax rates, costs and Ministry of Industry and Trade will coordinate with to find measures in order to handle soon.

However Mr Quyen can not affirm exactly about time to lift prices in the next time, March, April or other months, because it take time for discussion between Ministries. Ministry of Finance will announce the last result.

According to Mr Quyen, retail prices of A92 gasoline and DO in the somestic market are currently selling at VND20,800 a liter and VND20,400 a liter, lower than other neighboring countries. In detail, China, Lao and cambodia are selling gasoline and DO at VND24,714 a liter and VND 28,300 a liter respectively.

In hearing major distributors to lift price of petrol products, some retail petrol stations in Hue, Da Nang, Dak Nong, Dak Lak have closed their business, but Mr Do Thanh Lam - Deputy Director of Market Management Department said that agency has request local government to solve this broblem.

Source: Xangdau.net