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Government Retains Control of Petrol Price despite Rise in World Price (15/07)
06/08/2010 - 17 Lượt xem
The conference was held to correct misperceptions concerning gasoline pricing policy. Several retailers closed their stations because of the speculation.
The government sets petrol prices according to a planned schedule and considers factors other than the current world price, Mr. Tu told a Sai Gon Giai Phong reporter.
“Although the world price has increased to US$140 a barrel, prices in the country remain stable and people have not yet had to share the burden with the government,” he added.
Mr. Tu said that the government is still offering subsidies to affected businesses.
The prime minister directed the Ministry of Industry and Commercial to ensure that there would be enough petrol for domestic use and to keep prices stable until June, with allowances for unexpected developments, said Mr. Tu.
“Prime Minister Nguyen Tan Dung has ordered the central government and the local authorities to curb inflation and to stabilize macroeconomics and social welfare,” said Mr. Tu.
Several Market Management Teams have recently reported on the shut down of stations in the suburban districts of Tan Phu, Binh Tan, and Hoc Mon. Several stations in the northern province of Ha Tay closed due to petroleum shortages.
The ministry stated that there is a sufficient supply of petroleum on the market. The ministry pointed out that Petrolimex, Saigon Petro and Petec stations all have sufficient reserves to meet demand.
The ministry will withdraw the business licenses from stations that close because of price speculation, Mr. Tu said.
The reserves of petrol importers are enough to provide market for 20 to 30 days, said Mr. Vo Van Quyen, deputy chief of the domestic market department, on Tuesday.
“The ministry frequently controls and reminds petrol businesses to balance imports,” he added.
Source: SGGP
