The Government proposed the operation of the petrol price stabilisation fund should be maintained because it remained an effective tool to regulate petrol prices.
Retail petroleum businesses have asked to stop contributing to the petrol price stabilisation fund, increasing the commission to reduce losses and permanently withdrawing the license of unprofitable retailers.
Authorities want to maintain the petrol price stabilisation fund as a tool to keep retail prices stable and give them the ability to intervene in the market when necessary.
The balance of the petrol price stabilisation fund at Viet Nam National Petroleum Group (Petrolimex) was VND1.72 trillion (US$73.8 million) as of Friday, the group said.
The balance of the petrol price stabilisation fund surged to more than VND5.1 trillion (US$ 224 million) at the end of the fourth quarter of 2017, the Ministry of Finance has reported.
The balance of the petrol price stabilisation fund surged to more than VND5.22 trillion (some US$ 230 million) at the end of the third quarter of 2017, the Ministry of Finance reported on Monday.
The balance of the petrol price stabilisation fund stood at more than
VND4 trillion (US$190.4 million) at the end of the fourth quarter of
2014, reported the Ministry of Finance.
Deputy Prime Minister Hoang Trung Hai has asked the Ministry of
Industry and Trade and relevant ministries to submit to the Government
in September a final draft of amended Decree No 84/2009/ND-CP on trading
petrol.