Financial officials in Vietnam have rejected speculation that the government was going to raise the retail prices of gasoline and oil again following surges in global crude costs
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Financial officials in
On Monday, global crude prices rose to an all-time record high of US$70.8 per barrel on concerns that Hurricane Katrina, which was battering the US southern coastline, would damage refining and extraction operations in the Gulf of Mexico.
The situation had sparked concerns over a fresh increase in retail fuel costs in the country, and indeed, rumors started to circulate that the Ministry of Finance would push up prices on August 30.
However, “the ministry at the moment has no plan to raise petrol prices,” said Nghiem Quang Hien, a ministry official in a press conference Tuesday.
“The ministry is keeping a close watch on global crude prices. It will only consider changes in retail fuel costs if world’s prices remain over $70 per barrel.”
He also said so far, no local fuel imports were hit by rising oil prices as all import deals had been struck before prices hit $70 per barrel.
A ministry spokesman confirmed Mr. Hien’s statement with a Thanh Nien reporter on the same day.
In mid-August, the government put up retail petrol prices by 10.6 to 15.3%, the third consecutive hike in the last six months.
(Source: thanhniennews)
