Gov’t strives for E5 bio-fuel roadmap

January 08, 2016 | 09:44

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Deputy PM Hoang Trung Hai highlighted the determination to realize the E5 bio-fuel roadmap amidst low oil prices and difficult distribution of the bio fuel.

Illustration photo

The Deputy PM made the point on January 7 in Ha Noi at a meeting to review the implementation of Decision 53/2012/QD-TT on the road map for using E5 petrol.

Mr. Hai tasked relevant agencies to boost E5 petrol consumption in accordance with the Government’s roadmap and encourage consumers to use the fuel in a bid to gradually reduce reliance on fossil fuel.

Specifically, by mid-2016, 100% of petrol stations in eight localities, namely Ha Noi, HCMC, Hai Phong, Da Nang, Can Tho, Quang Ngai, Quang Nam and Ba Ria-Vung Tay, will sell E5. Other localities will have to strive for 50% coverage of E5 petrol.

The Government leader asked the Ministry of Industry and Trade (MoIT) to work with E5 petrol producers to set a basis price formula, extricate price difficulties, cut production costs, and avoid the shortage.

The MoIT and the Ministry of Finance were assigned to consider appropriate mechanisms to create attractive prices.

Last year, the eight localities piloted E5 bio-fuel and consumed 278,504 m3 of fuel, accounting for around 15.72% of RON92.

As of late October, 2015, E5 bio-fuel was put on sale at 819 out of 2,018 fuel stations (or 40.58%).

Central Quang Ngai Province sold E5 biofuel from July last year, becoming the first province in the country to sell the biofuel, with most of its retail petrol stations participating in.

Some 70% of stations in Da Nang now sell E5 petrol while the rates in Ba Ria-Vung Tau, Ha Noi, Can Tho and Hai Phong were 24, 20.4, 16.4 and 7 percent, respectively.

VGP

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