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3 years 11 months
Submitted by ctv_en_1 on Tue, 12/26/2006 - 11:15
The retail prices of petrol and oil in 2007 will be adjusted in line with the world prices as the State will not subsidy petrol imports. It is expected that the retail prices of petrol and oil will regularly increase.

According to the Ministry of Trade, the production of petrol and oil in the world experienced complicated developments in 2006, causing the prices of imported petrol and oil to increase by 21 percent from US$438 to US$530 per tonne as compared to 2005.


In 2006, the Ministry of Trade reduced the import tax of petrol and oil twice in April from five percent to zero percent and from 20 percent to 10 percent in December. The ministry has also increased the import tax of petrol and oil three times this year.


The retail prices of petrol and oil were increased twice and also reduced twice in 2006. the highest price of petrol A92 in 2006 was VND12,000 per litre and the lowest price was VND9,500 per litre.

 

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