PETROL AND OIL DISTRIBUTORS MAY DECIDE THE RETAIL PRICES OF PETROL AND OIL
This is a new content in the Government’s Decree No. 95/2021/ND-CP dated November 01, 2021 amending and supplementing a number of articles of the Decree No. 83/2014/ND-CP dated September 03, 2014, on petrol and oil trading.
Specifically, based on the actual situation at each enterprise, key petrol and oil traders and petrol and oil distributors shall decide the retail prices of petrol and oil (or the wholesale price, for fuel oil) in their distribution system in accordance with the actual expenses incurred at the enterprise and ensure that such prices shall be not higher than the one announced by the competent state agency.
For localities far away from petrol and oil key depots, far away from petrol and oil production establishments, if there are (audited) reasonable and valid actual expenses incurred, leading to a sale price higher than the regulating price, key petrol and oil traders may decide the actual sale price in such localities (that has been notified to the Ministry of Industry and Trade) to offset the expenses but the increasing amount must not exceed 2% of the regulating price announced at that time.
In that case, key petrol and oil traders and petrol and oil distributors shall be responsible for notifying their sale prices to the Ministry of Industry and Trade and the Ministry of Finance right after deciding on the petrol and oil sale prices of the enterprise.
This Decree takes effect on January 02, 2022.
