Fuel price stabilization fund proposed to be disbanded

According to VINPA, the use of the fund has left a gap between domestic and global fuel prices. Therefore, the fund disbandment will help regulate the domestic fuel price in line with global price movements and ensure the transparence of adjustments to the domestic fuel price.

Fuel traders have complained that they have to extract VND300 for every liter of fuels sold to consumers, but they are not allowed to use the amount. However, when the fund faces a deficit, fuel traders have to compensate for the deficit.

In addition, the higher the sales of E5 bio-fuel are, the less money fuel traders receive from the price stabilization fund. Meanwhile, the fund for those who do not provide E5 bio-fuel is stable.