By the end of the third quarter of 2023, 4 units will have negative balance in the Petroleum Price Stabilization Fund.

On the afternoon of November 23, the Ministry of Finance announced that in the third quarter of 2023 (from July 1 to September 30), the total amount of deductions from the Price Stabilization Fund was VND 13.92 billion; the total amount of fund use was VND 387.94 billion.

In addition, interest arising on the positive balance of the Price Stabilization Fund in the third quarter was VND 3,558 billion; interest arising on the negative balance of the Price Stabilization Fund was VND 0,311 billion.

Specifically, in the detailed statistical table of provisions and expenditures of key traders, it shows that the Vietnam National Petroleum Group (Petrolimex) is the enterprise with the highest balance of the Price Stabilization Fund at the end of the period as of June 30, 2023, with more than VND 3,000 billion, accounting for more than 40% of the total fund balance.

Next is Hai Ha Waterway Transport Company Limited with more than 612 billion VND;

Thien Minh Duc Group Joint Stock Company with more than 466 billion VND;

Dong Thap Petroleum Trading Joint Stock Company is 446 billion VND;

Thanh Le Import Export Trading Corporation - JSC with 391 billion VND;

Ho Chi Minh City Petroleum Company Limited over 327 billion VND;

Military Petroleum Corporation Limited Company with 292 billion VND...

The report recorded 4 units with negative balance in Price Stabilization Fund, respectively:

Tan Nhat Minh Petroleum Joint Stock Company;

Vietnam Oil Corporation - Joint Stock Company (PV Oil);

Truong An Investment and Development Group Joint Stock Company;

Petro Binh Minh Company Limited.

The Ministry of Finance said that the disclosure of information on the situation of provision, use and interest arising on the balance of the Petroleum Price Stabilization Fund aims to continue implementing the principle of transparency in managing petroleum prices according to the provisions of Decree No. 83/2014/ND-CP dated September 3, 2014 on petroleum trading and Decree 95/2021/ND-CP dated November 1, 2021 (amended and supplemented) of the Government on petroleum trading.

It is known that the establishment of the Petroleum Price Stabilization Fund is carried out simultaneously with the base price management period. This is a financial fund that is not included in the state budget balance.

Accordingly, the source of this stabilization fund is established through the purchase price, paid by consumers (maximum 300 VND/liter) but is managed at the enterprise and the use of the fund is decided by the operator.

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