Headlines 10/11/2021 15:13 CH

From 2022, oil and petrol prices to be adjusted every 10 days

Quý Tân

This is mentioned in the Decree No.95/2021/ND-CP dated November 1, 2021 on amendments to the Decree No. 83/2014/ND-CP regarding oil and petroleum business.

According to this Decree, oil and petrol prices will be regulated on the 1st, 11th and 21st day of each month.

This means that, according to the regulation that is about to take effect, oil and petrol prices will be adjusted in the 10-day cycle.

Currently, Decree No. 83/2014/ND-CP prescribes that the minimum interval between 02 consecutive increasing adjustments is 15 days while the maximum interval between 02 consecutive decreasing adjustments is also 15 days.

If the period of oil and petrol price regulation falls on days-off or holidays, the following cases will occur:

+ During statutory days-off and holidays, the price regulation date will be extended to the promptly succeeding date.

+ During Lunar New Year holidays, the price regulation period will be extended to the succeeding one.

Decree No. 95/2021/ND-CP is entering into force as of January 2, 2022.



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