ARBITRARILY ADJUSTING PETROL AND OIL RETAIL PRICES SHALL BE FINED UP TO VND 50 MILLION
On August 26, 2020, the Government promulgates the Decree No. 99/2020/ND-CP on sanctioning of administrative violations in the fields of petroleum, petrol, oil and gas trading.
Accordingly, a fine from VND 30 million to VND 50 million shall be imposed for the acts of arbitrarily adjusting petrol and oil retail prices not at the time prescribed by wholesale traders or petrol and oil distributors. Simultaneously, for cases of repeated violation or recidivism, the additional sanction of depriving of the right to use the certificate of eligibility to retail petrol and oil for a period of between 01 month and 03 months shall be imposed.
In addition, to impose a fine from VND 05 million to VND 10 million for one of the following violations involving a violated petrol and oil value of less than VND 10,000,000: Transporting petrol and oil into a border area in contravention of regulations; Trading in, exchanging or transferring alongside ships petrol and oil at sea with foreign ships, boats or vehicles.
Besides, a fine from VND 80 million to VND 100 million and the suspension of pipelined gas trading operation for a period of between 01 month and 03 months shall be imposed on pipelined gas traders failing to have gas supply stations which fully meet requirements on safety in accordance with law provisions.
This Decree takes effect on October 11, 2020.
