How Often Can Petrol and Oil Prices Be Adjusted?
How often can fuel prices be adjusted?
According to Clause 27, Article 1 of Decree 95/2021/ND-CP, the regulation on the time for fuel price adjustment is as follows:
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- Time for fuel price adjustment
The time for fuel price adjustment is on the 1st, 11th, and 21st of each month. In the case that the adjustment period coincides with a holiday or public holiday as prescribed by the state, the adjustment time will be postponed to the next working day after the holiday. For the adjustment period coinciding with the Lunar New Year, the adjustment time will be postponed to the following adjustment period.
In case of abnormal fluctuations in fuel prices that significantly affect socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on an appropriate fuel price adjustment time.
The fuel sale price will be adjusted on the 1st, 11th, and 21st of every month, except for public holidays and in cases of unusual fluctuations in fuel prices.
Conditions for retail fuel dealers
According to Article 19 of Decree 83/2014/ND-CP, amended by Clause 15, Article 1 of Decree 95/2021/ND-CP, the conditions for retail fuel dealers are as follows:
Merchants meeting the following conditions will be granted a Certificate of Eligibility for Retail Fuel Dealership by the Department of Industry and Trade (hereinafter referred to as the dealer):
Enterprises established in accordance with the law, with a business registration certificate that includes fuel trading.
Owning or leasing a retail fuel station for a lease term of five (05) years or more, and having a certificate of eligibility for retail fuel stations as prescribed in Article 25 of this Decree.
Managers and employees directly engaged in business must be trained and certified in fire prevention and fighting, and environmental protection according to current legal regulations.
Respectfully!
