Title: Decree 67/2017/ND-CP stipulates penalties for administrative violations in the field of oil and gas, petroleum and gas trading

Type: Decree

Issuing Agency: Government

Responsible Agency: Relevant Agencies

Issuing Date: 25-05-2017

Penalty to VND 60 million if arbitrarily adjusting the retail price of petroleum

On May 25, 2017, the Government issued Decree 67/2017/ND-CP on sanctioning administrative violations in petroleum business. Whereby:

Increasing the fine bracket for acts of violating regulations on petrol and oil retail prices prescribed by key traders or petrol and oil distributors up to between VND 40 and 60 million (currently between VND 10 and 20 million), can:

- Arbitrarily adjust petrol and oil selling prices not at the prescribed time;

- Selling higher than the listed price;

At the same time, deprivation of the right to use the store's GCN eligible for retail gasoline from 01 to 03 months and forcing to return the illegal benefit gained from implementing the above acts.

In addition, to reduce the fine levels for violations of listing petrol and oil prices:

- A fine of between VND 1 and 2 million for failing to list or post up petrol and oil retail prices in contravention of regulations or unclearly causing confusion to customers.

- Penalties from 02 to 06 million VND for acts of listing retail prices not at the prescribed prices.

Decree 67/2017/ND-CP takes effect from July 10, 2017 and replaces Decree 97/2013/ND-CP.

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