Fuel price cycle to be shortened, slowly removed in Vietnam

Some industry experts and traders have long supported a shorter price cycle, saying it will solve the discrepancy between fuel prices in the domestic and international markets and be more in sync with fuel trading activities.

HANOI: Vietnam's Industry and Trade Ministry has proposed a new price mechanism to adjust fuel prices every five days instead of the current 10-day cycle, or possibly every day, to finally address a number of issues that has resulted in sporadic fuel shortages across the country in recent months.

Some industry experts and traders have long supported a shorter price cycle, saying it will solve the discrepancy between fuel prices in the domestic and international markets and be more in sync with fuel trading activities.