Oil prices drop sharply, Ministry of Finance proposes to "tighten" transportation fares

The Ministry of Finance has sent an official dispatch to the Ministry of Transport on continuing to strengthen the management of transportation fares in the area. According to the Ministry of Finance, the sharp decline in gasoline prices is the main reason for implementing transportation fare management, contributing to stabilizing the general market price and harmonizing the interests of businesses and consumers.

According to the Ministry of Finance, the demand for transportation and travel is forecast to increase sharply in the next 3 months. Meanwhile, from the beginning of 2015 to October 2015, gasoline and oil prices have been adjusted down many times.

Based on the opinions of the Ministry of Finance and the Ministry of Transport, localities have directed and resolutely requested automobile transport businesses to review and declare price reductions in accordance with fuel price developments.

As of mid-October 2015, passenger transport businesses by car have basically declared a common price reduction of 3-5% depending on the route, type of transport and locality.

However, from mid-September 2015 to now, gasoline and oil prices have continued to trend downward. In particular, on December 18, oil prices continued to be adjusted downwards, specifically Ron 92 gasoline decreased by 390 VND/liter, and Diesel 0.05S decreased by 1,250 VND/liter.

Thus, from mid-September 2015 to present, the price of Ron 92 gasoline has increased twice with a total increase of 800 VND/liter, decreased five times with a total decrease of 1,730 VND/liter, the price of 0.05S diesel has increased twice with an increase of 790 VND/liter, decreased four times with a total decrease of 2,120 VND/liter.

By October 2015, passenger transport businesses by car had declared a common price reduction of 3-5%. (Photo: Internet)

To continue to strengthen the management of transportation fares in the area and stabilize general market prices, according to the authority of specialized management of transportation, the Ministry of Finance requests the Ministry of Transport to continue to coordinate and direct the Departments of Transport to preside over and coordinate with the Department of Finance and relevant agencies to continue to strengthen the management of transportation fares.

In particular, requiring automobile transport business units to review current fuel prices and fuel prices calculated in fare plans compared to the previous declaration to re-declare transportation fares in line with the downward trend in fuel prices.

The Ministry of Finance also requested the Ministry of Transport to direct the Automobile Transport Associations to propagate and mobilize transport units in the area to declare and post fares according to regulations and ensure the principle of adjusting and reducing road transport fares according to market rules and in accordance with the reduction in input fuel prices.

According to ANTĐ