Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates


Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Diesel price slashed by VND1,000/litre   2008-12-24 - Viet Nam Net

The Ministry of Finance’s Price Control Agency has approved the plan on slashing diesel price submitted by the Vietnam National Petroleum Corporation (Petrolimex), under which diesel price will decrease by another VND1,000/litre, effective today, December 24.

 

 
As such, the 0.05S diesel price will be sold at VND11,000/litre instead of VND12,000. No price decrease has been announced for petrol and other types of oil products.

 

This is the third consecutive price decrease announced so far in December. When asked about the possibility of petrol price decreases, representative from Petrolimex said that it is not very likely to see the petrol price decrease further as petrol is now imposed the highest tax rate at 40%.

 

The importers would incur the loss of several hundreds VND for every litre of diesel with the price decrease. The currently applied import tax rate for diesel is 25%.

 

The representative said that in order to support enterprises’ production, the State should consider lowering the tax on diesel, thus paving the way for diesel price decreases.

 

In the world’s market, the crude oil prices have been tumbling down to below $40/barel. The oil price in Singapore on December 23 reportedly dropped to below $40/barrel after increasing to $43/barrel in the previous trading session. There have been signs showing that the demand for oil will decrease due to the global economic recession.

 

The price of crude oil with February 2009 delivery at 8 am of December 23, Hanoi time, in New York saw another decrease of UScent25 (- 0.6%) to $39.66/barrel.



Other news

2009 to be difficult year, but will still offer opportunities: economists   2008-12-24

More advantages for small and medium enterprises in 2009   2008-12-24

Vietnam to put rules on gold trading floors   2008-12-24

BUSINESS IN BRIEF 24/12   2008-12-24

Sweetening the festive season   2008-12-24

TV tube producer Orion-Hanel filing for bankruptcy   2008-12-24

No early end to real estate crisis   2008-12-24

Businesses practicing thrift to survive difficult period   2008-12-24

Stocks decline on continued bleak economic outlook   2008-12-24

More advantages for small and medium enterprises in 2009   2008-12-24

Mapletree gets license for $400 mln Binh Duong business park   2008-12-24

Vietnam to spen $10.5 bln on developing electrical equipment   2008-12-24

Hong Kong telecom firm dumps cable venture   2008-12-24

Toshiba establishes industrial motor manufacturing and sales base in Vietnam   2008-12-24