The prices of oil and petrol sharply reduced from 3 pm on Thursday, returning to levels not seen in the past five months, as global prices fell and the National Assembly Standing Committee''s reduced the environmental protection tax on fuel.
The State is facing big challenges in ensuring the fuel supply and stabilise domestic petrol and oil prices. Bui Ngoc Bao, chairman of the Vietnam Petroleum Association, speaks to Vietnam News Agency about those issues.
The Viet Nam Petroleum Association (VINPA) has sent a document to the Ministry of Finance (MoF) in support of the ministry’s proposal to increase the environmental protection tax on oil and gas consumption.
The Viet Nam Petroleum Association (VINPA) has proposed to establish commercial barriers to protect local firms once import duties on fuel products are gradually reduced to zero per cent.