From 2022: Petrol prices will be adjusted every 10 days in Vietnam

Bao Ngoc

09:28, 02/11/2021

The government of Vietnam has just promulgated Decree 95/2021/ND-CP amending and supplementing some articles of Decree 83/2014/ND-CP about petroleum business

According to the Decree, amending the operating time for petrol prices is as follows:

The operating time for petrol and oil prices is on the 1st, 11th and 21st of every month, which means that it is adjusted three times per month.

(Currently, according to Decree 83/2014/ND-CP of Vietnam, the petrol price management period is 15 days).

Therefore, from January 2, 2022, the retail price of petrol and oil in Vietnam will be adjusted three times per month, i.e. once every 10 days instead of the current 15 days.

For the operating periods that coincide with a holiday or public holiday according to the regulations of the Vietnamese State, and the operating time shall be postponed to the next working day after the holiday or public holiday.

For the operating period that coincides with the Lunar New Year, the operating time is postponed to the next operating period.

In case the price of petroleum products has abnormal fluctuations, greatly affecting the socio-economic development and people's life, the Ministry of Industry and Trade of Vietnam is responsible for reporting to the Prime Minister to consider and decide the appropriate time to administer gasoline prices.

Decree 95/2021/ND-CP of Vietnam takes effect from January 2, 2022.

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