Officially, gas prices will adjust once a week

According to the new Decree replacing Decree 95 on gasoline and oil business, the time for operating and announcing gasoline prices is shortened from 10 days to 7 days. The time for operating gasoline prices is carried out every Thursday. week.

On November 17, the Ministry of Industry and Trade said that the Government officially issued Decree 80 amending and supplementing a number of articles of Decree No. 95 and Decree 83 on petroleum business. This Decree has received a lot of attention from public opinion and the petroleum business community in recent times.


New points of Decree 80 compared to previous Decree 95 and 83 include the price formula and method of operating gasoline prices. Specifically, Decree 80 adjusts the time to review and announce the costs of bringing gasoline and oil from abroad to Vietnamese ports, the costs of bringing gasoline and oil from domestic refineries to ports, and the premium to calculate gasoline prices. from domestic production from 6 months to 3 months.

This is to ensure more timely updates on prices and costs for businesses, creating incentives for businesses to create sources of petroleum to supply to the domestic market. Regarding the operating time, the gasoline price announcement shortens the gasoline price operating time from 10 days to 7 days. The gasoline price operating time is carried out every Thursday.

In addition, Decree 80 allows gasoline dealers to get gasoline from up to 3 sources to create competition in gasoline discounts in the market, while increasing the proactiveness of gasoline retailers. in generating and supplying petroleum.


Regarding intermediaries in the petroleum business: abolish the type of general petroleum retail agency to reduce intermediaries in the petroleum distribution system. Regarding regulations on storage conditions when granting licenses for wholesale traders and petroleum distributors: Supplementing regulations to strengthen management, inspection and supervision of enterprises in business activities. petroleum business.

At the same time, decentralize the local Department of Industry and Trade to inspect and supervise traders’ compliance with regulations in petroleum business activities. Amend and supplement regulations on cases of revocation of petroleum trading licenses of traders to ensure compliance with the law and avoid sudden disruption of petroleum supply, especially during periods of Domestic petroleum supply is affected and scarce. Supplement regulations, management measures, and stricter supervision of the Petroleum Price Stabilization Fund.


The Ministry of Industry and Trade said that this Ministry will coordinate with the Ministry of Finance and related agencies to continue to review, research, and develop a new Decree to replace the Decrees on petroleum business submitted to the Government during the current period. next time.

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