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Ministry rejects petrol price-hike rumors (14/05)
06/08/2010 - 26 Lượt xem
Deputy Minister of Industry and Trade Nguyen Cam Tu said Monday rumors of a fresh fuel price hike were “utterly groundless.”
In recent days, rumors have been circulating that gasoline prices would see a hike since global oil prices have hovered close to record levels above $126 a barrel Monday.
The government Web site cited Tu as saying Monday that though global oil prices had broken through the $100 per barrel mark, the government would be able to keep retail prices down and planned no further hikes.
It had last hiked prices last February, increasing the price of 92-RON gasoline, the most common grade used in the country, from VND13,000 ($0.8) to VND14,500 ($0.9) a liter.
At a meeting last month, Prime Minister Nguyen Tan Dung had instructed major fuel traders, all of them state-owned, to maintain supplies at all cost and not to effect any price hikes until June in an effort to contain the soaring inflation.
The government also confirmed in the National Assembly last week that it had placed a price cap on other essential items.
It has instructed the State Bank of Vietnam to ensure availability of loans for fuel importers under a “special mechanism” by which the central bank and commercial banks would assist importers in buying foreign currency.
The Ministry of Finance has been told to speed up subsidy payments to fuel traders.
Source: Government Website
