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Vietnam to Stabilize Fuel Supplies to Ensure Social Security
in-en.com  2008-7-23 9:27:57  

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-- Vietnamese companies must supply enough fuel to ensure social security after the government raised gasoline prices.

The Ministry of Industry and Trade will help companies import fuel, keep sufficient reserves and circulate enough supply for domestic consumption, according to a statement posted on government's Web site late yesterday.

The Southeast Asian nation this week allowed companies to increase gasoline and kerosene prices after oil reached a record $147.27 a barrel on July 11. The increases triggered concern that inflation will quicken from 26.8 percent, and worsen living conditions for the 85 million Vietnamese.

``No one is allowed to take advantage of raised gasoline prices to increase prices of goods or services to an unreasonable level,'' Prime Minister Nguyen Tan Dung said in the statement.

Prices of electricity, clean water, coal and other goods and services which are controlled by the government must be ``kept stable,'' the statement said.

Vietnam on July 21 increased retail prices for gasoline by 31 percent and kerosene by 44 percent.


 
Author:Bloomberg  From:Bloomberg  Edit:steven
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