HAI PHONG DEPARTMENT OF PLANNING AND INVESTMENT
HAI PHONG DEPARTMENT OF PLANNING AND INVESTMENT
The Ministry of Industry and Trade has recently submitted the Government the draft Decree on adjusting and supplementing some articles of the Decree No.80 on oil and gas business.
Accordingly, the Ministry put forth to adjust the fuel prices every 10 or 15 days. In case the adjustment time falls on weekend, the move will be done right after that. In special cases, reports will be sent to PM to consider the concrete adjustment time.
Giving opinions to the draft decree, Vietnam Petroleum Association also recommend the reduction of adjustment frequency to 10 days so that the domestic retail prices will approach the world prices. In this draft, the Ministry of Industry and Trade also propose to reduce the time for compulsary circulation reserve from 30 days to only 20 days, or maintain the former stipulation of 30 days, at the same time asking the gasoline distributors to ensure the minium reserve within 5 days./.
