Headlines 01/09/2020 16:30 CH

Fines for deliberate adjustment of petroleum retailing prices drop

Quý Tân

This is the highlight of the Decree No. 99/2020/ND-CP prescribing administrative penalties for violations arising in the gas, oil industry, gas and petroleum trading activities.

According to this document, organizations that, of their own accord, adjust the retail prices of petrol and oil at the time other than the one regulated by petroleum wholesalers or distributors will be fined from 30 million to 50 million dong.

In case of multiple or repeated violations, they may be deprived of the right to use the Certificate of conformance to petroleum retailing regulations for retail outlets for the period from 1 to 3 months.      

(Currently, they are fined from 40 million to 60 million dong and are deprived of the certificate of conformance to petroleum retailing regulations for retail outlets for the period from 1 to 3 months).

Several related fines are also adjusted under the Decree No. 99/2020/ND-CP including:

- Imposing fines from 5 million to 10 million dong for the act of listing petroleum retail prices inconsistently with those regulated by petroleum wholesalers or distributors (currently, from 2 million to 6 million dong).

- Imposing fines from 50 million to 70 million dong (currently, from 20 million to 30 million dong) for the following acts:

+ Failing to send notifications or;

+ Failing to send decisions on petroleum retail prices applied to units belonging to the petroleum distribution system ahead of the effective time of these prices in case of any increase or decrease in petroleum retail prices.   

Decree No. 99/2020/ND-CP is entering into force on October 11, 2020, replacing the Decree No. 67/2017/ND-CP dated May 25, 2017.

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