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It is worrying that the frequency of gasoline price increases is high

Avatar of Nick John By Nick John Dec23,2023 #frequency #increases
It is worrying that the frequency of gasoline price increases is high 4
It is worrying that the frequency of gasoline price increases is high 4

The increase of only 460 VND per liter is enough to push the price of RON 92 gasoline to a record 24,570 VND from July 17.

The Ministry of Finance explains that the recent three consecutive increases in gasoline prices are in line with developments in the world market.

However, Dr. Le Dang Doanh, former Director of the Central Institute for Economic Management Research, expressed concern about this excessive density increase and according to him, it not only causes a psychological impact on people but also causes price increases.

Sharing the same opinion, economic expert Ngo Tri Long also questioned whether the frequency of price increases in recent times is reasonable when the economy is facing many difficulties and businesses are having to reduce all types of costs.

Gasoline prices increased to record levels.

According to Decree 84 on the management of petroleum business activities, businesses are allowed to increase prices at least once every 10 days, so there may be cases where there will be 3 gasoline price increases in a month.

Businesses affected by recent continuous price increases also expressed their discontent.

Mr. Do Thuc, General Director of the General Statistics Office, said that according to the current price index calculation, July CPI will only be affected by the June 28 gasoline price increase (the second price increase at 360 VND per liter).

According to him, with the recent increase of a few hundred dong, the first round impact on CPI will not be large, while the second round impact on other commodities and industries will have to wait a long time.

The newsletter of Ho Chi Minh City Securities Company published a few days ago hypothesizes that gasoline prices may increase by 350 VND per liter in July (equivalent to 76% of the actual increase), not yet having time to impact CPI in the month but will cause

However, the decision to cut the standard profits of petroleum enterprises is supported by experts and believes that it will help reduce public pressure on the way the petroleum market is operated.

Economic expert Ngo Tri Long said that this is the solution to share with the people, because in difficult circumstances, it is impossible for businesses to still enjoy such a part of the profits.

Sharing the same opinion, Dr. Le Dang Doanh welcomed the reduction of profit norms for businesses so that the selling price of gasoline is not too high compared to the import price.

Huyen Thu

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