Vietnam Consumes 13.5 Bln Liters of Petrol Yearly
Vietnam is estimated to consume up to 13.5 billion liters of petroleum per annum, said Vuong Thai Dung, deputy general director of Vietnam National Petroleum Corp (Petrolomex).
On average, the country uses 12.5 million liters of gasoline and 25 million liters of oil per day; and the figures reach 375 million liters of gasoline and 750 million liters of oil monthly, VTC News quoted Mr. Dung as saying.
Petrolimex is now selling 7.5 million liters of gasoline and 15 million liters of oil per day, accounting for 60 per cent of Vietnamese market share, the official said.
Vo Van Quyen, deputy head of the Department of Domestic Market Policy under the Ministry of Industry and Trade said that Vietnam’s compulsory petroleum product reserves must be enough for at least 20 days.
Vietnam still cannot slash retail petroleum prices at this moment despite a considerable fall in the global crude oil price in recent days as both the Vietnamese government and petrol traders need more time to gain back after long-endured losses, Dung said recently.
Currently, gasoline A92 is priced at VND19,000 (US$1.15) per liter in Vietnam while a liter of diesel 0.05S is sold at VND15,950 (US$0.96), paraffin oil at VND20,000 (US$1.21), and mazut at VND13,000 (US$0.78). (VTC News)
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