In the 14th draft of the decree on petroleum trade, the Ministry of Industry and Trade proposes scrapping the state's periodic announcement of base prices, letting wholesale and distribution traders set selling prices themselves while filing declarations for regulators to monitor. Wholesale traders must publicly announce the effective time of new prices at least 30 minutes in advance, down to the hour and minute, to prevent early hikes or delayed cuts, and distributors may not sell above the prices published by wholesalers. Standard business costs would be adjusted by CPI, with announcements no later than January 31 each year, and firms must report actual costs annually and undergo independent audits every 3 years. The draft also adds grounds for investigating restrictive competition: two or more traders in the same area with a combined market share of 30% or more, showing signs of collusion or price agreements not driven by input cost changes. In abnormal market conditions, the state could still impose maximum prices, price bands or fixed prices for a set period to stabilize the market.
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Original headline: Doanh nghiệp tự quyết giá xăng dầu nhưng công bố giá mới ít nhất trước 30 phút
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