Caution petrol price hike

- Given the problems of the economy, authorities should consider carefully the petrol price increase, to limit the increase pressure for businesses, consumers, pushing inflation up high.


After three consecutive price reductions, 06.14.2013 afternoon, the Ministry of Finance - Industry and Commerce allows enterprises (companies) Business petroleum retail prices adjust two items as petrol and diesel . In particular, gas prices are increasing maximum 426 VND / liter and diesel rose no more than 221 VND / liter. Oil and oil prices madut without permission.


Increase and decrease the price stabilization fund


Immediately after the governing body on "green", Vietnam National Petroleum Corporation (Petrolimex) notice requirements of member companies increase the retail price of gasoline (zone 1). Accordingly, the adjustment for petrolimex lower than the value of the associated permissions. Specifically, the increase in gasoline 420, the new retail price of petrol Ron 95 is 24.250 VND / liter petrol Ron 92 was 23,750 VND / liter turbo diesel oil at 220, the new price is 21 470 VND / liter, diesel oil 0 , 05S and 21 420 VND / liter, diesel oil 0.25 S. This is the first price increase since January 4/2013 to present.


According to the Ministry of Finance - Industry and Trade, the price of oil on world markets tend to rise since the beginning of May 5/2013. The Ministry of Finance has reduced petrol import tax to 18%, allowing companies to use the price stabilization fund (from 160-400 VND / liter). However, as world oil prices continue to rise, should venture to increase the retail price to ensure operating under the market mechanism, harmonious mutual interest.


Along with the price increase, the associated requirements on the level of oil price stabilization fund from 400 to 300 VND / liter (for gasoline and diesel), fell from 160 to 100 dong (madut oil). Private oil stabilization fund was increased from 290 to 300 VND / liter. Regarding the cost price stabilization fund use, inter-ministerial decision 100 adjustment decreased the (applicable to gasoline, diesel oil), down to 300 VND / liter, fuel oil contract fell 60, to $ 100 VND / kg Meaning ..., the source is petroleum price stabilization fund has plummeted, spending from the fund should also be reduced correspondingly to ensure financial balance.


 

                                      The level can not increase petrol prices too "shocked"


From the level of prices, stabilization fund spending, reduce taxes ... can be seen, the Ministry of Finance - Industry and Trade is very careful when increasing or decreasing cost and flexibility to use the tool to adjust fuel prices in the country. Although world prices tend to rise, oil companies asked to "bite" loss leader. But in the context of economic difficulties, the level of oil prices can not be too "shocked", causing a negative impact to business operations, the lives of the people.


No price increase "shocking"


During this adjustment, the Ministry of Finance - Industry and Commerce only allows control prices of petrol and diesel. The maximum increase of only 221-426 VND / liter. Although the petroleum companies to watch ceiling prices, the increase is only about 1 to 1.8% (220-420 VND / kg), significantly lower than the increase "shocking" 1,430 VND / liter on 28/3 / 2013. As such, would not cause much disturbance.


Earlier, on May 5/2013, apparently in preparation for a new round of price increases, the Ministry of Finance decided to reduce import tax 1% to 18% (lower than the rate specified in the import of petroleum ). Thus, the State accepted to reduce revenue sharing difficulties with enterprises, in order to hold down gasoline prices stabilize over time. But when world prices rise, related to increasing the retail price to consumers sharing difficult.


In fact, every time gasoline prices usually increase prices of essential commodities, "Dancing", pushing consumer price index increase, putting pressure on inflation. As announced by the General Statistics Office, the CPI increased continuously in the past 3 months. Particularly CPI 5/2013 increased 6.36% over the same period last year and up 2.35% vs. 12/2012. CPI to rise again as a key factor that operators carefully when making the decision to increase fuel prices in 2013, in order to keep inflation low and stable macro economy.


On the business side, Mr. Ha Duy Hung, Director of Transportation Ltd Thinh Hung (Hai Phong), said: "Every time oil prices rise, shipping companies must bear the cost burden increased. We to calculate, reduce the costs to curb rising freight rates, customer retention ".


According to Hung, the petrol price hike, the company will not raise rates, but try to reduce costs, increase revenues to offset ... From 2012 to now, due to the economic downturn, so difficult companies try to keep rates steady, not increasing bus fares. But with nearly 100 cars, the cars, the companies admitted, "we have to" gong "to maintain operations, through this difficult period," Mr Hung said.