On the morning of April 2, the Department of Domestic Market Management and Development under the Ministry of Industry and Trade announced that the ministry is collecting feedback from ministries, agencies, localities, associations and businesses on a draft circular regulating advance disbursements to the fuel price stabilization fund from increased central budget revenues in 2025.
Under the draft, the Ministry of Industry and Trade will assign the Department of Domestic Market Management and Development to receive, manage and allocate advance funds to key petroleum traders to support price management.
The advance will be provided every seven days in line with price adjustments, calculated from projected domestic fuel demand and the fund’s spending rate, VND5,000 per liter for diesel and VND4,000 per liter for other fuels.
All advance funds will be transferred to escrow accounts opened by major fuel traders at commercial banks. These accounts may only be used for price stabilization spending, fund contributions, and repayment to the state budget.
The draft requires transparent and publicly disclosed management of the fund. Enterprises may only use and contribute to the fund following official price adjustments announced by the Ministry of Industry and Trade, while also disclosing balances, submitting monthly reports, providing bank statements, and ensuring data accuracy.
The repayment mechanism is linked to the fund’s size. When the balance is estimated to reach VND8 trillion (US$304 million) or more, enterprises will be required to conduct independent audits to determine expenditures and contributions as a basis for settlement and repayment to the state budget.
Enterprises must complete the audit and submit reports within three months. The Ministry of Industry and Trade will then coordinate with the Ministry of Finance to propose a repayment plan to the competent authorities.
If the fund remains insufficient for repayment after 12 months, the ministry will report to the Ministry of Finance for submission to the Government for consideration.
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