Decision No. 21/2003/QD-BTC dated February 18, 2003 of the Ministry of Finance on the maximum prices of petrol and oils

DECISION

ON THE MAXIMUM PRICES OF PETROL AND OILS

THE MINISTER OF FINANCE

Pursuant to the Government’s Decree No. 178/CP of October 28, 1994 on the tasks, powers and organizational apparatus of the Ministry of Finance;

In furtherance of the Prime Minister’s Decision No. 25/2003/QD-TTg of February 17, 2003 adjusting the domestic selling prices of petrol and oils;

After consulting with the Ministry of Trade,

DECIDES:

Article 1.- To prescribe the maximum selling prices (value added tax included) of a number of types of standard petrol and oils at actual temperatures, for uniform application throughout the country as follows:

Prices of petrol and oils of other types shall be set by the petrol- and oil-trading enterprises, based on the actual selling prices of assorted standard petrol and oils on the same market and the quality difference as compared to the above-said petrol and oils.

Article 2.- Sale places:

- Wholesale: Goods shall be delivered at the provincial/municipal central depots on the purchasers’ transportation means;

- Retail: Goods shall be sold at filling stations and retail stores in provinces and cities on the purchasers’ transportation means.

Article 3.- Petrol- and oil-trading enterprises may decide on the specific levels of wholesale and retail prices of each type of petrol and oil at each time, which suit the cost prices and market prices, but must not exceed the maximum prices prescribed in Article 1.

In case of fluctuation of petrol and oil prices on the market, Vietnam Petroleum Corporation and other enterprises tasked by the State to import and trade in petrol and oils (called other enterprises for short) shall have to regulate supply and demand so that the market prices shall not exceed the maximum prices.

Article 4.- The stipulations on retail prices of petrol and oils, set by the petrol- and oil-trading enterprises (or authorized to attached units), must be sent to the Ministry of Finance and the Ministry of Trade for monitoring and inspecting the implementation thereof. Particularly for the stipulations on wholesale prices of petrol and oils, the petrol- and oil-trading enterprises must accurately and promptly report thereon when requested by the Ministry of Finance and/or the Ministry of Trade.

The provincial/municipal Finance-Pricing Services shall coordinate with the provincial/municipal Trade Services in inspecting the implementation of petrol and oil selling prices in their respective localities, detect in time violations and handle them within the scope of their respective powers according to the current regulations or report them to the competent agencies for handling.

Article 5.- This Decision takes effect as from February 18, 2003. All the previous decisions contrary to this Decision shall no longer have implementation effect.