They say that this task is incumbent upon the Ministry of Trade and Industry, local departments and related agencies. E5 fuel is a mix of A92 petrol (95 percent) and biofuel ethanol (5 percent).Since it went on sale on January 1, replacing RON92 petrol, the biofuel mix has failed to attract expected attention from local drivers, although it is a cheaper alternative.
"For safe environment, use E5 fuel"
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Meanwhile, the retail selling price of RON95 petrol has been increased by 760-810 VND per litre to more than 20,690 VND. However, since many people are still unsure, they have opted to buy the more expensive A95 petrol. Even the staff at petrol stations had little information to convey, expect saying it was more environmentally friendly.
The Department of Industry and Trade of HCM City said it has taken steps to encourage people to use E5. Department spokesman Vo Le Bich Dong said they would cooperate with the Ministry of Information and Communications as well as the media to improve awareness of E5. He noted that traders thought that they should be given tax exemptions for selling the fuel.
In HCM City, all 534 petrol stations have stopped selling RON 92, replacing it with the E5 fuel. The trade ministry has asked departments of industry and trade to step up supervision of petrol traders, distributors, wholesalers and petrol stations.
According to PetroVietnam Oil Corporation (PV Oil), the sale of E5 at its stations reached 600-650cu.m per day, accounting for 70 percent of its total petrol sales. PVOil said that all of its stations have replaced RON 92 with E5 bio-fuel since the beginning of the year.
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The quality of E5 bio fuel in Vietnam is ensured and meets international standards. All features, capacity and fuel consumption remain the same, and in some criteria E5 is better than RON 92, officials said.
The nationwide sale of E5 replacing RON 92 was implemented for two weeks. Consumers are becoming accustomed to using this environmentally-friendly bio-fuel. However, some consumers are still unsure of the quality of the fuel, as well as if the new E5 fuel suits their vehicles.
The country has a Vietnamese national standard to manage the fuel’s quality. It has been continuously updated to match global trends. The Government only encourages the use of E5 by reducing taxes and fees, thus lowering its selling prices.
The retail price of E5 biofuel is about 2,000 VND (8.9 US cents) per litre cheaper than that of RON92 petrol at 18,243 VND. Meanwhile, the retail selling price of RON95 petrol has been increased by 760-810 VND per litre to more than 20,690 VND.
The Ministry of Industry and Trade said the global selling price of RON 95 has surged, pushing the country’s retail price higher. The ministry sent a report to Deputy Prime Minister Vuong Dinh Hue, who is also head of the price management board of RON 95.
RON 95 has not been subject to announcements of its basis price, and the ministries of industry and trade and finance did not use the price stabilisation fund to lower prices.
It added that they announced basis prices of popular petroleum products which have high consumption in the market. Previously, consumers mostly used RON 92. Only some expensive, newer vehicles were recommended to use RON 95.
This was the reason that the two ministries used RON 92 for the calculation of basis price in the local market, the ministry said, adding that it would report to the Government on the announcement of the RON 95 basis price when the number of vehicles using the fuel increased.
