A key proposal drawing attention is to allow petroleum businesses to independently set and announce retail fuel prices, instead of having the State periodically announce a base price, currently every seven days. Businesses would calculate, determine, and announce their selling prices based on the formula and principles stipulated in the draft decree.
Deputy Minister of Industry and Trade Nguyen Viet Son said the draft would directly affect thousands of petroleum businesses, retail outlets, and consumers. Reforming the management mechanism must go hand in hand with ensuring fuel supply, energy security, and macroeconomic stability.
According to the Deputy Minister, the draft aims to reduce administrative procedures, limit intermediaries, and enhance business competitiveness. Businesses would have greater autonomy in their operations, while the regulatory mechanism would still need to ensure adequate supply and the ability to respond to market fluctuations.
