Jieeselee.online - According to a representative of the Ministry of Industry and Trade and experts, when the price of gas, gasoline and many consumer-related items increases sharply, it will certainly affect the CPI in the remaining months of 2021.
Domestic gas prices have increased 9 times in a row in recent times. Photo: Hoang Manh Thang
Regarding the sharp increase of gas and many other commodities, which tends to continue to set records and affect the CPI in the last months of the year, a representative of the Ministry of Industry and Trade told us on the afternoon of November 1. Gas prices in the world and in the country have increased very high recently.
With an increase of 17,000 VND/12kg bottle due to the world gas price imported under the November contract to $850/ton, up $52.5/ton compared to October, domestic gas has reached a record of 9. consecutive times in 2021 with a total increase of 164,000 VND/bottle of 12 kg.
According to this position, up to now, the price of finished gas is equivalent to the increase in gasoline price at about 180 USD/barrel. The continuous increase in gas prices due to the great impact of world prices; interrupted product supply along with logistics costs were pushed up very high, up 5-6 times compared to the time before the COVID-19 epidemic appeared. When consumption-related items increase strongly, it will certainly affect CPI in the remaining months of the year.
Sharing with us, an expert in the field of price management said that, along with gas prices, prices of many other important commodities in the economy such as gasoline, oil, iron and steel, and cement prices are expected to continue. continue to increase until the end of this year and the uptrend will continue in 2022.
The price increase is due to the fact that currently the domestic gas source is imported about 60%, so it is dominated and affected by the huge world gas price. When funds, investors, and large financial groups have speculative activities, world prices immediately fluctuate greatly.
“Gas prices are currently not regulated like petrol prices. Business enterprises only need to declare prices with the Price Management Department (Ministry of Finance). Because it is not under the management of the Law on Price, it is not possible to calculate the price stabilization now because it has been implemented according to the market mechanism," he said.
At a meeting of the Government's Price Control Steering Committee last week, representatives of many ministries and branches commented on the sharp increase in prices of many essential commodities. Representatives of the Ministry of Industry and Trade and other ministries and branches have proposed solutions to control prices from now until the end of the year and 2022 in the context of the prolonged COVID-19 epidemic.
Gas prices increase because demand is greater than supply
According to Mr. Le Quang Tuan, Deputy Director of the Pacific Petroleum Trading Joint Stock Company, the domestic gas price has increased due to the increase in world fuel prices, while the demand for winter heating gas has increased sharply. Due to natural disasters, epidemics, gas exploitation output was only 70% compared to the previous one, making the supply scarce.
The Southern Gas Association said that the increase in world gas prices has led to a sharp increase in domestic retail gas prices. Therefore, ministries, branches and localities are advised to actively implement solutions to ensure the balance of supply and demand, stabilize the market and prices, especially essential consumer goods and services.
Regarding petroleum products, Deputy Minister of Industry and Trade Do Thang Hai said that the Ministry has reported to the Government that the tax structure currently accounts for more than 40% of the cost of petroleum production.
Meanwhile, the forecast is that the world gasoline price will continue to increase from now until the end of the year and the possibility in the fourth quarter of 2021 may increase to 105-110 USD/barrel.
In addition to the effective and flexible use of the Price Stabilization Fund, the Ministry of Industry and Trade will report to the Government and propose a number of solutions, including proposing the Prime Minister to direct the Ministry of Finance to consider and consider tax reduction, fees such as import-export tax, special consumption tax and especially environmental protection tax in the current gasoline price structure to ensure room for operation in the near future.
“If the world gasoline price continues to increase, we must also have room to adjust. If there are no tools, the domestic gasoline price will increase according to the world price, "said Deputy Minister Hai.
