Hanoi, Vietnam, March 9 -- The proposal is included in a draft circular guiding the draft decree on petroleum trading. It specifies additional provisions on a price stabilization mechanism covering gasoline, bio-gasoline and diesel.
Under the draft circular, the stabilization mechanism would be considered when retail petroleum prices surge sharply within one month, with a cumulative increase of at least 20 percent. Such a spike, the ministry noted, could pose potential negative impacts on the macroeconomy, inflation and people's livelihoods.
Under the latest adjustment, from 3:00 p.m. on March 7, retail prices of petrol and oil products simultaneously increased sharply.
The price of E5 RON92 petrol is capped at 25,226 VND per litre (0.96...