Despite the fuel prices in the world market have cooled down but the Ministry of Finance still permitted the somestic major distributors to keep retail prices of fuel unchanging, except to reduce prices from stabilization fund.
According to estimates of The Finance Ministry, the 30-days average price of gasoline (to 29/10/2012) in the world market have decreased by 1.79-5.05% over the previous time, depending on the categories.
Current prices of fuel products in domestic market, however, the Finance Ministry said still lower than the 30-day basis average prices. In detail, A92 gasoline price is less than VND419 per liter; while diesel price is less than VND472 per liter; kerosene price is less than VND661 per liter and mazut price is less than VND18 per liter.
In addition, the stabilization fund balance of fuel is drying up, even deficit in major distributors.
In this situation, Ministry of Finance has required them to keep current price stable, but lower price from stabilization fund to VND300 from VND500 for gasoline and diesel, but still kept at VND500 for kerosene and stopped using price from stabilization fund for mazut.
In the coming time, the finance Ministry and Insutry and Trade Ministry shall continue to operate the fuel prices under the market mechanism with the administration of the State as Decree 84 of the Government
