Hanoi (VNA) — Fuel prices were slashed by over 1,000VND per litre across the board on September 12.
RON 95-III decreased by 1,015 VND to 23,215 VND per litre. E5 RON92followed suit with a fall of 1,128 VND, to hit 22,231 VND per litre.Diesel fell by 1,008 VND to 24,180 VND per litre.
A drop of 1,027 VND was observed in Kerosene prices, which were adjusted downto 24,418 VND per litre. Mazut, likewise, went down to 15,039 VND perkilo after an adjustment of 1,038 VND.
The authorities set aside 451 VND for every litre of E5 RON92, 450 VND for RON95,90 VND for Diesel, 741 VND for Mazut and none for Kerosene to finance the FuelPrice Stabilisation Fund.
The authorities also announced that the funds were not used to stabilisefuel prices this time. Petrolimex said its fund was at 840 billion VNDso far.
Under Decree 95, fuel prices are adjusted periodically threetimes per month, on the first, eleventh and twenty-first day./.
The Ministry of Industry and Trade (MoIT) has put forward a proposal to increase the country's fuel reserve by as much as four times, said Le Viet Nga, Deputy Director of the MoIT’s Domestic Market Department, during a conference last week in Hanoi.
Supply of goods and services for the domestic market during the first half of the year has been ample with a slight uptick observed for a number of commodities, said the Ministry of Industry and Trade (MoIT) during a conference in Hanoi on June 28.
Fuel prices were reduced in the latest review on August 11 by the Ministry of Industry and Trade and the Ministry of Finance, the fifth consecutive time and the fourth significant drop.
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Photo: VNA) 
