Opinions differ over fuel market problems Authorities reiterated fuel prices had been regulated in a transparent way, but fuel wholesalers disagreed, heard an online meeting on the Government web portal on Thursday. Nguyen Anh Tuan, deputy director of the Department of Price Management under the Ministry of Finance, said the mechanism for fuel price management was very transparent with clear and specific documents on price components and price stabilization fund. Deputy Minister of Industry and Trade Nguyen Cam Tu said fuel base prices calculated according to the formula of the Finance Ministry were publicized every day. “Those who think fuel prices are not transparent, please take a second look at any Thi Truong issue, they are all there,” he said at the meeting. However, Bui Ngoc Bao, chairman of Petrolimex, the fuel trading company with a 48% market share, expressed a different view. “It’s true that press briefings were held every time fuel prices were adjusted to reveal price components. It was transparent at the time, but it is not in the whole cycle because price components do not comply with any standard,” he said. In 2012, local prices have not matched global prices as fuel import tax management is… Read full this story
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