Decision No. 21/2003/QD-BTC On Maximum Retail Prices for Petroleum Products

Pursuant to …;

Maximum Limit Price for Gasoline and Diesel Oil

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THE MINISTER OF FINANCE

Pursuant to Decree No. 178/CP dated October 28, 1994 of the Government on the tasks, powers, and organizational structure of the Ministry of Finance;

Implementing Decision No. 25/2003/QĐ-TTg dated February 17, 2003 of the Prime Minister on adjusting domestic gasoline and diesel oil selling prices;

After reaching consensus with the Ministry of Trade.

DECISION:

Article 1Now, we stipulate the maximum limit selling price (inclusive of value-added tax) for certain types of gasoline and diesel oil at actual temperatures uniformly throughout the country as follows:

Maximum Wholesale Price Maximum Retail Price

(VND/kg) (VND/liter)

Unleaded Gasoline RON 92: - 5,600

- Unleaded Gasoline RON 90: - 5,400

- Unleaded Gasoline RON 83: - 5,200

- Diesel Oil 0.5%S: - 4,400

- Diesel Oil 1%S: - 4,300

- Kerosene: - 4,300

- Fuel Oil (FO N°2B(3.5%S)): 3,200 -

The prices of other types of gasoline and diesel oil shall be determined by enterprises trading in gasoline and diesel oil based on the actual selling prices of standard types of gasoline and diesel oil on the same market and the quality difference compared to the aforementioned types.

Enterprises trading in gasoline and diesel oil have the right to decide specific wholesale and retail prices for each type of gasoline and diesel oil at different times in accordance with cost and market prices but must not exceed the maximum limit prices prescribed herein.

Article 2. Place of sale:

- Wholesale: goods are delivered at the provincial or municipal central warehouse 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 3. In cases where there are fluctuations in the market prices of gasoline and diesel oil, Vietnam Oil and Gas Corporation, and other enterprises assigned by the State to import and trade in gasoline and diesel oil (referred to as other enterprises) shall be responsible for balancing supply and demand to ensure that market prices do not exceed the maximum limit prices. Article 1.

Regulations on retail prices for gasoline and diesel oil set by enterprises trading in gasoline and diesel oil (or delegated to subordinate units) must be submitted to the Ministry of Finance and the Ministry of Trade for monitoring and inspection. As for regulations on wholesale prices for gasoline and diesel oil, enterprises trading in gasoline and diesel oil must report accurately and promptly when requested by the Ministry of Finance and the Ministry of Trade.

Article 4. Provincial Departments of Finance and Prices, in coordination with provincial Departments of Trade, are responsible for inspecting the implementation of gasoline and diesel oil selling prices in their respective localities, promptly identifying any violations, and handling them within their jurisdiction according to current regulations, or reporting to competent authorities for further action.

This Decision takes effect from February 18, 2003. All previous decisions conflicting with this Decision shall cease to be effective.

Article 5. This Decision shall take effect from February 18, 2003. All previous decisions that conflict with this Decision shall be invalid.