Petroleum Businesses Are Free to Set Prices but Must Declare and Explain Any Price Fluctuations.
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According to the draft of the new decree on petroleum business, enterprises are allowed to independently determine selling prices according to formulas prescribed by the State. Unusual fluctuations in cost components of the price will be flagged for inspection and monitoring by the management agency.
The Ministry of Industry and Trade is finalizing a mechanism for monitoring gasoline and diesel prices using a database. Businesses are empowered to determine selling prices, but price calculations must be based on formulas stipulated by the State. The Ministry of Finance is implementing a comprehensive set of solutions to control inflation in the final months of the year. The supply of basic goods is smooth, with the average CPI for the first n…
On the afternoon of October 7th, the Ministry of Industry and Trade held its regular quarterly press conference for the third quarter of 2026, focusing on the draft regulations for managing petroleum business and forecasts of supply, demand, and prices of petroleum products in the coming period.
(Dan Tri Newspaper) - The Ministry of Industry and Trade stated that businesses can independently determine gasoline and diesel prices, but they must declare and explain price fluctuations. In addition, the data system will warn of any unusual factors.
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