The first three enterprises to propose retail price increases include Vietnam Oil Corporation (PV Oil), Petec Company, and Dong Thap Petroleum Trading Company. Meanwhile, Petrolimex (currently holding about 70% of the market share) has not yet given any proposal.
These three companies stated that with global oil prices continuing to rise sharply, without price adjustments, enterprises would incur losses of around 1,000 VND per liter of fuel. All three requested a price increase of 500–700 VND per liter, expected to take effect this week.
According to PV Oil’s calculations, over the past 20 days, finished gasoline prices averaged 74 USD per barrel. Currently, A92 gasoline in the Singapore market is being offered at 79–80 USD per barrel. Diesel and kerosene prices are hovering around 84 USD per barrel, while fuel oil is priced at 456 USD per ton.
With these selling prices, after deducting expenses, taxes, commissions, and storage fees, enterprises are losing about 1,000 VND per liter of diesel and approximately 700 VND per liter of gasoline.
Speaking with VnExpress.net, the Ministry of Finance confirmed it had received the proposals from enterprises last night. The agency is calculating to determine appropriate measures—possibly through tax adjustments or the price stabilization fund. Only if these measures prove insufficient will a price increase be implemented.
(Hong Anh – VnExpress 22/10)
