An Analysis of Petrol Price Management Policies in Vietnam from 2020 to 2022

Pham Minh Thuy^1,

¹Institute of Economics and Finance, Academy of Finance, Hanoi, Vietnam

Cite this paper:
Pham Minh Thuy. An Analysis of Petrol Price Management Policies in Vietnam from 2020 to 2022. Journal of Finance and Economics. 2023; 11(1):58-67. doi: 10.12691/jfe-11-1-4

Abstract

The price and market of petroleum in the world from 2020-2022 have strong fluctuations, mainly due to the imbalance between the supply and demand of petrol and the impact of the Russian military conflict with Ukraine. The world petrol price fluctuates strongly, making the retail price of petrol in Vietnam also fluctuate. This fluctuation has revealed some weaknesses of the current policy of regulating petrol prices in Vietnam. The article outlines some results and shortcomings of the policy of regulating petrol prices in the domestic market, thereby proposing some recommendations to improve the policy of regulating petrol prices in Vietnam in the short term.

Keywords:
petrol price regulating stabilizing petrol price

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