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Vietnam has imported around 5.65 million tons of fuels worth US$5.95 billion in the year to mid-August, according to data released by the General Department of Vietnam Customs.
India’s rush to buy petrol and diesel has already driven a surge in regional refining margins for both fuels, according to industry consultancy FGE
The Ministry of Industry and Trade (MoIT) has put forward a proposal to increase the country's fuel reserve by as much as four times, said Le Viet Nga, Deputy Director of the MoIT’s Domestic Market Department, during a conference last week in Hanoi.
The Ministry of Finance (MoF) has proposed the Government cut the most favoured nation (MFN) tariff for unleaded petrol from the current rate of 20 per cent to 12 per cent.