Petrolimex reports increase in profits

The latest petrol and power price hike have directly impacted April’s consumer price index, the General Statistics Office (GSO) says.

Ly Son Island residents are hunting for petrol after the island's tankers were banned from sailing on safety considerations.

Some petroleum distributors are grumbling about getting only 50 percent of demand after Vietnam’s biggest refinery halted production early 2019. 

Last weekend’s increase in fuel prices has stoked fears that Vietnam might not meet its 2018 inflation target.

Vietnam’s Nghi Son oil refinery has offered its first gasoline export cargo, the plant’s owner said on its website.

People fear that they are being forced to buy a product they are not interested in.

According to an initial investigation, a fuel pump malfunctioned, causing the explosion.

The tax hike would add $690 million to the state coffers if approved.

The crews of 26 people from Cambodia and Thailand aboard three boats were caught last week for transferring diesel oil off Vietnam's southern coast.

Lower tax rates on imported oil products haven't impacted pump prices.

Petrolimex  pushes up retail prices of oil products by nearly five percent.

Petrolimex has cut retail prices of gasoline by some 4 percent.

Vietnam recorded an eight-fold jump in imports of oil products from South Korea in the first five months of this year following a tariff cut.