Calculating the cost of bringing gasoline from abroad to Vietnamese ports

According to the Circular, the regulation on the cost of bringing gasoline from abroad to a Vietnamese port is only valid for calculating the base price of petrol and oil according to the provisions of Article 1 of Decree 95/2021/ND-CP of Vietnam.

This cost is determined according to the weighted average method according to the imported petroleum output of the leading petrol and oil trader.

The cost of bringing gasoline from abroad to a Vietnamese port includes premiums, insurance costs, costs of transporting petroleum from abroad or from bonded warehouses to Vietnamese ports, and other costs incurred (if any).

Periodically before June 21, December 21 every year, the leading petrol and oil trader is responsible for sending a report on the results of reviewing the cost of bringing petrol and oil from abroad to a Vietnamese port according to the form in the Appendix. No. 01 promulgated together with Circular 104/2021 on the Ministry of Finance of Vietnam (Price Management Department).

The data collection period for the reporting period June 21 is aggregated from December 1 of the preceding year to May 31 of the reporting year. Data collection time for the reporting period on December 21 is summarized from June 1 to November 30 of the reporting year.

Periodically on January 10, and July 10 every year (if it coincides with a holiday or public holiday, it will be postponed to the next working day), the Ministry of Finance of Vietnam shall announce the cost of bringing petrol and oil from abroad Vietnamese port for the Ministry of Industry and Trade to apply and calculate the base price.

 Circular 104/2021/TT-BTC of Vietnam takes effect from January 2, 2022.

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