Delegates of the National Assembly are concerned about the situation of high gasoline prices


Gasoline prices soar, the risk of high inflation

Delegate Nguyen Thi Yen (The delegation of Ba Ria – Vung Tau province) said that the domestic gasoline price increased according to the world price, pushing the price of other goods to increase. Up to now, it has not only stopped at petrol and gas, but has also spread to fertilizer, food, and food supplies, affecting the chain, causing service costs to increase, affecting people’s lives and activities. production and business activities of the enterprise.

“On average, in the first four months of the year, domestic gasoline prices impacted the consumer price index (CPI) by 2.1%. In April alone, it increased by 2.09% compared to the end of 2021, nearly twice as much as in the same period last year. From 2018 to 2021, it will put pressure on inflation in the last months of the year,” emphasized delegate Nguyen Thi Yen.

Also giving opinions on petrol prices, Delegate Tran Hoang Ngan (Ho Chi Minh City delegation) said that the lives of workers, people and the poor are facing many difficulties due to high prices of gasoline and some commodities.

Analyzing the current context, delegates said that up to this moment, major countries have implemented tight monetary policies and raised interest rates, affecting the world economic recovery.

When it comes to petrol prices, there have been many fluctuations in recent times, Delegate Tran Van Lam – Deputy head of the specialized delegation Bac Giang delegation, member of the Finance and Budget Committee of the National Assembly, the control of petrol and oil prices is a particularly important content that the Government, the Ministry of Industry and Trade – Finance are interested in. If we can control the increase in petrol prices, we can control inflation and CPI.

Member of National Assembly Hoang Van Cuong – The Finance and Budget Committee of the National Assembly said that gasoline prices increased according to world fluctuations. The recent record high prices, both the people and the economy were severely affected. The goal of controlling inflation is very difficult. Therefore, how to control and limit rising gasoline prices to stabilize people’s lives and perform the State’s macro-management role, Mr. Cuong said, there is still room for price reduction.

Solutions to control inflation

In response to concerns about the above problem, the National Assembly deputies proposed solutions to cool down the petroleum market and control the risk of inflation.

Delegate Tran Hoang Ngan (Ho Chi Minh City delegation)

Member of the National Assembly Nguyen Thi Yen requesting the Government to consider and closely evaluate the situation, come up with policies to strictly control and stabilize petrol and oil prices; To operate flexibly, closely and effectively fiscal and monetary policies, accelerate the implementation of the socio-economic recovery and development program and 3 national target programs to create favorable conditions for curbing inflation. development, ensuring a great balance of the economy.

Member of National Assembly Tran Hoang Ngan He also proposed that, in order to achieve our country’s economic growth target of 6 to 6.5% and control inflation by 4% this year, the Government should soon submit to the National Assembly and the Standing Committee of the National Assembly to reduce taxes on environmental protection and taxes. special consumption, value added tax on items, in which the most important item is petroleum products, because the increase in petrol prices will lead to dominoes increase the prices of other items.

Member of National Assembly Hoang Van Cuong proposed to cut taxes. The tax reduction will affect the budget revenue but still have to accept, to solve the current situation. In addition to the issue of price management, the National Assembly deputies also paid attention to the supply factor. Mr. Cuong said that supply is the most important, how not to be too volatile.

Follow Delegate Tran Van Lam, to “cool down” the price of gasoline, we have tools, that is the Petroleum Stabilization Fund, the tax tool. What tools fall under the authority of the Government, the Ministry of Industry and Trade can handle, it should be done immediately; and if it is beyond the authority of the Government, it is also necessary to soon advise, recommend and request the competent authorities for opinions and decisions.

Besides, there were many opinions discussed by the National Assembly deputies on the issue of stabilizing gasoline prices. However, the Government has stated that the issue of petrol price management will be ensured according to the market mechanism but with control, so that petroleum products will not affect production and the macro-economy. The Government has implemented a series of solutions such as using the Price Stabilization Fund, has a resolution to report to the competent authorities to reduce the environmental protection tax on gasoline. Besides, if gasoline prices continue to increase, there are mechanisms and policies to support subjects to ensure stable production and stable prices.

Also this afternoon (June 1), the Ministry of Finance and the Ministry of Industry and Trade will adjust gasoline prices according to the cycle. According to forecast, domestic gasoline prices will continue to increase for the 5th time in a row. If the increase corresponds to the current loss, RON 95 gasoline will surpass the mark of 31,000 VND/liter.

Ta Nhi

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