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Petrol price stabilisation fund balance surges to more than VNĐ5.1 trillion

Update: February, 09/2018 - 17:50
The balance of the petrol price stabilisation fund surged to more than VNĐ5.1 trillion (US$ 224 million) at the end of the fourth quarter of 2017. — Photo cafef.vn
Viet Nam News

HÀ NỘI — The balance of the petrol price stabilisation fund surged to more than VNĐ5.1 trillion (US$ 224 million) at the end of the fourth quarter of 2017, the Ministry of Finance has reported.

Of the total, the balance of the fund at Việt Nam National Petroleum Group (Petrolimex) was the highest with VNĐ3 trillion. It was followed by PetroVitenam Oil Corporation (PV Oil) with VNĐ434 billion, Military Petroleum Corporation (MIPECORP) with VNĐ383 billion and One-Member Limited Liability Oil and Gas Company of HCM City with VNĐ345 billion.

However, there were five out of 27 petrol traders reporting negative fund balances. The highest negative fund balance was at Nam Việt Petro Refinery and Chemicals Company with over VNĐ24.6 billion.

The fund used VNĐ1.43 trillion to stabilise petrol retail prices in the fourth quarter of 2017.

Contributed by petroleum wholesale distributors, the price stabilisation fund aims to prevent a bigger retail price spike when the imported price surged. — VNS