Decision No. 12/2008/QD-BTC on the selling price of gasoline and other oils

DECISION OF THE MINISTER OF FINANCE

On the price of gasoline and other oils

THE MINISTER OF FINANCE

Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 170/2003/NĐ-CP dated December 25, 2003 of the Government detailing the implementation of certain provisions of the Price Ordinance;

Pursuant to Decree No. 55/2007/NĐ-CP dated April 6, 2007 of the Government on trading in gasoline and oil;

Pursuant to the Prime Minister's conclusion as notified in Official Letter No. 36/TB-VPCP dated February 22, 2008 of the Government Office on managing gasoline and some important goods in 2008;

After consultation with the Ministry of Industry and Trade,

DECISION:

Article 1. The retail price of gasoline sold by traders engaged in exporting, importing, producing, or processing gasoline shall be determined according to Decree No. 55/2007/NĐ-CP dated April 6, 2007 of the Government on trading in gasoline and Decision No. 1968/QĐ-BTC dated June 6, 2007 of the Ministry of Finance on the management and regulation of gasoline selling prices.

Article 2. The selling price (inclusive of value-added tax) of certain standard types of oil at actual temperature near the import port area (Zone 1) is uniformly regulated nationwide as follows:

The above prices apply directly to users. For diesel, kerosene, and furnace oil supplied to agents and major agents, the price will be the same as for direct consumers minus the commission rate set by the Ministry of Industry and Trade in Decision No. 0676/2004/QĐ-BTM dated May 31, 2004.

The selling price of these types of oil in areas far from the import ports (Zone 2) shall not exceed 2% of the price in Zone 1. Areas within Zones 1 and 2 shall follow the current guidelines of the Ministry of Industry and Trade (formerly the Ministry of Commerce) as stipulated in Decision No. 0674/2004/QĐ-BTM dated May 31, 2004.

The prices of diesel, kerosene, and furnace oil other than those specified above shall be determined by traders engaged in exporting, importing, or producing and processing gasoline (hereinafter referred to as key petroleum enterprises) based on the actual selling price of the standard types of oil mentioned above in the same market and the quality difference compared to the aforementioned types of oil.

Article 3. Place of sale:

- Wholesale: goods are delivered to the central warehouse of the province or city on the buyer's means of transport;

- Retail: goods are sold at gas stations and retail stores in provinces and cities on the buyer's means of transport.

Article 4. Responsibilities of ministries, sectors, localities, and production and business units:

- Enterprises engaged in production and business must strictly comply with the directives of the Prime Minister to implement cost-saving measures, especially regarding gasoline and oil expenses, to reduce product costs. Business units dealing with gasoline and oil must continue to cut management costs.

- Traders engaged in exporting, importing, or producing and processing gasoline must conduct inventory checks according to current regulations for their gasoline distribution systems before adjusting prices, ensuring smooth business operations and preventing negative impacts.

- Traders engaged in exporting, importing, or producing and processing gasoline must jointly bear legal responsibility for violations related to pricing and fraudulent trade practices within their enterprise's distribution system.

- In cases where there are significant fluctuations in the international market prices of oil, Vietnam Oil and Gas Corporation and other traders engaged in exporting, importing, or producing and processing gasoline have the responsibility to balance supply and demand and ensure adequate supply of gasoline and oil according to assigned tasks, maintaining domestic market stability.

- Provincial Departments of Finance shall cooperate with Provincial Departments of Industry and Trade and Market Management Branches to inspect the selling prices of various types of oil in their respective localities, linking price inspections with quality assurance and measurement unit checks corresponding to the selling price, promptly identifying and addressing any violations within their authority according to current regulations or reporting to competent authorities for handling under the law.

Article 5. This Decision takes effect from 11:00 AM on February 25, 2008, and replaces Decision No. 95/2007/QĐ-BTC dated November 22, 2007 on the guiding price of gasoline and oil issued by the Ministry of Finance./.