The Ministry of Industry and Trade has just sent an official dispatch to the Departments of Industry and Trade of provinces and centrally-run cities; key petroleum traders; and petroleum distributors regarding the time of gasoline price management.
The document clearly states that Decree No. 80/2023/ND-CP dated November 17, 2023, amending and supplementing a number of articles of Decree No. 95 and Decree No. 83 of the Government on petroleum trading, stipulates the time for managing petroleum prices as follows:
The time for operating gasoline prices is carried out every Thursday.
In case the price management period coincides with the Lunar New Year holiday:
If Thursday falls on the last day of the lunar year (29th or 30th of Tet), the petrol price adjustment will be made on the preceding Wednesday. If Thursday falls on the 1st, 2nd or 3rd day of Tet, the petrol price adjustment will be made on the 4th day of Tet.
In case the price management time coincides with a holiday:
If Thursday falls on the first day of a holiday, the petrol price adjustment will be made on the preceding Wednesday. If Thursday falls on any other holiday, the petrol price adjustment will be made on the first working day after the holiday.
In case the price of petroleum products fluctuates abnormally, affecting socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on the appropriate time to manage petroleum prices.
According to current regulations, Thursday (April 18, or March 10 of the lunar calendar) is a holiday (Hung King's Commemoration Day). Therefore, the Ministry of Industry and Trade said that the management of gasoline prices following the management period on April 11 will be carried out on Wednesday, April 17.
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