Importing Malaysian gasoline at one-third price a false report: ambassador

Although some local newspapers have reported that Malaysia has agreed to sell gasoline to Vietnam for 2.05 ringgit (46 cents) per liter, this is actually not the case, said Vietnam’s Ambassador to Malaysia Tran Viet Thai.

The above price tag, which is a third of Vietnam’s VND31,370 rate, applies only in domestic Malaysian consumption and is not applicable for exports, he added.

There was also a reporting mistake on the scale of the deal.

The Ministry of Industry and Trade was incorrect in saying that Malaysia was willing to sell 300,000 liters of RON95 gasoline, Thai said, adding that the correct figure was 300,000 tons.

Vietnam has seen surging gasoline prices since the beginning of this year due to issues in domestic output and rising global rates.

Gasoline buyers have to pay value-added, environment, special consumption and import taxes, which together claim around a third of gasoline prices.