Ministry proposes tariff cuts to bring down petrol prices

Ministry proposes tariff cuts to bring down petrol prices

The Ministry of Finance (MoF) has proposed a reduction of the most favoured nation (MFN) tariff on a number of petrol products widely used in industrial production from 20 per cent to 10 per cent in an attempt to bring down the economy's input cost.
Petrol retailers demand major changes

Petrol retailers demand major changes

Retail petroleum businesses have asked to stop contributing to the petrol price stabilisation fund, increasing the commission to reduce losses and permanently withdrawing the licence of unprofitable retailers.
Immediate hike risks tackled as inflation squeezes workers

Immediate hike risks tackled as inflation squeezes workers

A continued hike in the prices of fuel and input materials for production are expected to drive enterprises and labourers into more difficulties, and affect Vietnam’s efforts to rein in inflation this year.
Tax cuts on agenda to assist recovery

Tax cuts on agenda to assist recovery

New fiscal solutions are set to be applied to reduce risks of high inflation this year which are looming due to massive pressure in growing prices of a series of indispensable items and services, affecting consumption recovery and economic growth.
Petrol prices pressure inflation

Petrol prices pressure inflation

Inflationary pressure in Vietnam is increasing as local petrol production falls below expectations which, in turn, is affecting the consumer price index and putting pressure on macroeconomic stability.
Taxes and fees to be cut to curb petrol prices

Taxes and fees to be cut to curb petrol prices

Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund if petrol prices keep rising, said a leader from the Ministry of Industry and Trade (MoIT).
Oil and gas firms suffer drop in Q3 profit due to COVID-19 impacts

Oil and gas firms suffer drop in Q3 profit due to COVID-19 impacts

Despite the recovery of petrol prices, profits of many businesses in the oil and gas sector dropped in the third quarter of this year due to impacts of the COVID-19 pandemic.
June CPI in Ho Chi Minh City up 0.66 percent

June CPI in Ho Chi Minh City up 0.66 percent

The June CPI in Ho Chi Minh City was up 0.66 percent from last month, and up 2.1 percent from the same month last year, the city’s statistics office said on June 30.
Business wary of 2020 oil projections

Business wary of 2020 oil projections

While global oil supplies in 2019 were vulnerable, the fluctuations have not affected long-term petrol prices, yet business plans for some in the market in 2020 remain complicated.
NA Standing Committee proposes cutting road fees

NA Standing Committee proposes cutting road fees

The National Assembly (NA) Standing Committee has recently proposed removing the road maintenance fund and petrol price stabilisation fund.
Petrol prices hiked in latest review

Petrol prices hiked in latest review

The retail prices of oil and petrol rose sharply on Tuesday following adjustments made by the ministries of finance and industry and trade.
High petrol price outcry

High petrol price outcry

Calls are getting louder for lower petrol prices despite Ministry of Finance claims that petroleum traders are still chalking up losses.
Transport companies threaten to raise fees

Transport companies threaten to raise fees

Soon after the announcement of a rise in petrol prices, many transport companies said they would follow suit.