The Ministry of Finance (MoF) is taking steps to stabilise domestic gasoline prices and supply while removing difficulties for petroleum traders, said Nguyen Tien Minh Director of the MoF’s Price Management Department.
The Ministry of Industry and Trade and Ministry of Finance will adjust gasoline prices every ten days, to help keep domestic gasoline prices in line with global fluctuations, according to industry insiders.
As gasoline prices rose to the highest level in seven years during October, many enterprises are troubled by the cost of resuming business after the long period of social distancing caused by COVID-19.
The ministries of Finance and Industry and Trade yesterday enabled
enterprises to increase gasoline prices by VND1,200 (six cents) per
litre in the wake of increasing global fuel prices.