“Malaysian petrol price is 13,000 VND/liter, looking at it is desirable, but importing is not easy”

At the seminar “Promoting exports to the Malaysian market and Muslim countries”, organized by the Investment and Trade Promotion Center of Ho Chi Minh City (ITPC) in collaboration with the Malaysian Chamber of Commerce and Development of Overseas Malaysian Enterprises ( Matrade), Beyond World Co., Ltd., held on June 2 in Ho Chi Minh City, Mr. Tran Viet Thai, Ambassador Extraordinary and Plenipotentiary and Plenipotentiary of Vietnam in Malaysia, said that Malaysia has advantages in petroleum, liquefied petroleum gas, and price. RON95 gasoline in their country is only 13,000 VND/liter.

In particular, Malaysia plans to sell 300,000 liters of gasoline to Vietnam at a friendly price, Mr. Thai suggested that key petroleum businesses if interested can contact the Embassy and the Trade Office to help find the connection. connection, import business opportunities as well as cooperation.

However, according to the domestic petroleum business, each country has different fuel price policies, unable to see their low selling prices but approaching to buy at low prices. Vietnamese businesses can completely approach partners in Malaysia to find petroleum sources but still have to trade at world prices.

In Vietnam, the current price of gasoline is about 30,000 VND/liter

A representative of a large petroleum enterprise in Ho Chi Minh City affirmed that petroleum trading transactions with anyone must follow world prices. Specifically, Vietnam often trades petroleum with Singapore, in addition, there are sources of goods in Malaysia, Thailand, Korea… Therefore, buying cheap gasoline from Malaysia is difficult to do.

Petroleum experts also said that gasoline is an open market, and the selling price is high or low because each country has different policies. For example, in Vietnam, the current price of gasoline is about 30,000 VND/liter, of which taxes and fees account for 60%-65%, while the real price only accounts for about 35%-40%. And Malaysia sells gasoline to their market at a price of 13,000 VND because they do not put too much emphasis on taxes and fees for this item.

“Looking at the price of petrol in Malaysia, everyone wishes but businesses think that in reality, the policies of each country are different, it is difficult to compare and it is not easy to import cheap Malaysian gasoline” – an expert petroleum industry emphasized.

Similarly, according to Mr. Tran Minh Loan, Vice Chairman of the Vietnam Gas Association, the import of gas is like gasoline, which means it must follow world prices, making it difficult to find other cheap sources. That is the principle, cannot be changed. Mr. Loan cited oil refineries right in Vietnam, when they sell petrol and gas to domestic enterprises, they also follow the world price, but cannot sell at the “family” price.