If world oil prices stay firm at $64 per barrel, the Ministry of Finance (MoF) may have to raise local petrol prices
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If world oil prices stay firm at $64 per barrel, the Ministry of Finance (MoF) may have to raise local petrol prices.Nguyen Tien Thoa, Deputy Head of the Price Management Department, told VietNamNet that MoF is keeping track of world oil prices, and the ministry will have to ‘take action’ if prices remain high. ‘Taking action’ certainly means the ministry will raise the ceiling for petrol prices on the domestic market.
Mr Thoa noted that the Government still compensates for losses incurred by petrol importers. Industrial analysts say that petrol price adjustments should be implemented in such a way, that it does not impact greatly on prices of other products.
In a recent talk with VietNamNet, Mr Thoa did not deny the possibility of floating petrol prices by the end of the year or early next year.
(Source: Vietnam Agency)
