VINACHEM

Local fuel trading firms are making much profit though the domestic prices of diesel, kerosene and heavy fuel oil were revised down last week thanks to lower fuel prices from the main suppliers of petroleum products for Vietnam.

A fuel price chart posted on the website of the Vietnam Petroleum Association indicated the price of RON 92 petrol in Singapore fell to US$117.02 per barrel on Monday, the lowest in the past month and down nearly US$2 per barrel against last Friday. The RON 92 price had gone down by Monday but inched up to US$118.13 on Tuesday.

The association reckoned the 30-day base price used to calculate fuel retail prices in Vietnam has also dipped, at VND26,221 per liter of RON 92 on Monday and VND26,182 on Tuesday.

The world’s average 30-day price was US$122.45 per barrel on Monday and US$122.26 per barrel on Tuesday.

With the current base price and VND670 per liter extracted from the national fuel price stabilization fund, local trading firms can earn VND128 per liter of RON 92, VND135 a liter of diesel 0.05S, VND143 a liter of kerosene and VND103 a kilogram of heavy fuel oil. These earnings exclude a pre-calculated profit of VND300 per liter for the fuel trading firms.