Vietnam spends over US$6.8 billion importing petroleum over nine months
VOV.VN - The past nine months of the year saw Vietnam import over 6.5 million tonnes of petroleum worth US$6.833 billion, up 22.7% in volume and 131.8% in value year on year, according to the General Department of Vietnam Customs.
In September alone, petroleum businesses spent US$616.1 million on importing 627,652 tonnes, up 34.8% in volume and 27.8% in value compared to the previous month.
The Republic of Korea was the largest supplier in nine months, delivering more than 2.5 million tonnes worth US$2.745 billion, representing a 91.62% rise in volume and accounting for 39.16% of Vietnam’s total petroleum imports.
Meanwhile, China emerged as Vietnam’s major petroleum importer, purchasing more than 627,000 tonnes in nine months for US$676 million, representing a 2.3-fold rise in volume and a 4.42-fold rise in value year on year.
Despite an increase in petroleum imports, many retail petrol stations have recently scaled down operations due to a shortage of supply sources. They complained that incorrect calculations in discount rates by petroleum trading enterprises affected their operations.
At present, the retail prices of E5 RON 92 and RON 95 gasoline stand at VND20,732 and VND21,443 per litre, respectively, while diesel oil, kerosene, and mazut oil were traded at VND22,208/litre, VND21,688/litre, and VND14,094/kg, respectively.
The government is scheduled to adjust petroleum prices on October 11 afternoon, with the retail prices likely to bounce back following four consecutive decreases.
