Speaking to Dan Tri reporters, leaders of several petroleum companies said that recently, the average price of finished gasoline in the Singapore market has tended to increase compared to the previous period. Notably, the increase is relatively large.
Based on world price developments, businesses forecast that in the operating period on February 15, domestic E5 RON 92 gasoline may increase by 650-700 VND/liter, RON 95 gasoline may increase by 600-650 VND/liter. Similarly, diesel prices are forecast to increase by 690-720 VND/liter.
If the above forecast is correct, gasoline prices will increase again right after the first decrease in 2024. If the Ministry of Industry and Trade and the Ministry of Finance spend the stabilization fund, gasoline prices may increase less.
In the most recent adjustment period on February 8, the management agency decided to reduce the price of E5 RON 92 gasoline by VND790/liter to VND22,120/liter; and reduce the price of RON 95 gasoline by VND900/liter to VND23,260/liter.
Recently, the Ministry of Industry and Trade issued a document requesting key traders and petroleum distributors to inspect and review the current status and conditions for granting business licenses for petroleum export and import, and certificates of eligibility to act as key traders and petroleum distributors.
According to the Ministry, implementing the conclusion of the Government Inspectorate, key traders will have to report in detail on the conditions for having specialized wharves (ownership, lease, ability to receive oil tankers); oil receiving warehouses (quantity, ownership, lease from which enterprise, where, lease period); means of transporting oil (quantity, ownership, lease, type of vehicle, lease period).
Key traders must also report specifically on the gasoline distribution system, including listing owned stores, rented stores (for 5 years or more), gasoline retail agents, gasoline retail franchisees, and gasoline general agents.
In addition, distributors must report their petroleum distribution system with information on owned stores, rented stores, stores affiliated with petroleum retail agents, stores affiliated with traders that have received the right to retail petroleum, etc.
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