Gasoline price fluctuations in early 2018
The Ministry of Industry and Trade and the Ministry of Finance decided to adjust gasoline prices from 3:00 p.m. today, January 4. This is the first adjustment period in which RON 92 gasoline has been discontinued.
The Joint Ministry decided to keep the price of E5 RON 92 gasoline stable, at a maximum of VND18,243/liter. Increase the price of oil products, specifically by VND360/liter for diesel; VND495/liter for kerosene and VND235/kg for mazut.
After adjustment, the price of E5 RON 92 gasoline is no higher than VND18,243/liter; diesel VND15,529/liter; kerosene VND14,112/liter and mazut VND12,617/kg.
The Ministry of Industry and Trade said that the average price of finished petroleum products in the world over the past 15 days was nearly 73.78 USD per barrel of RON 92 (base gasoline for blending E5 RON 92 gasoline), 77.47 USD per barrel of diesel oil,...
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| E5 gasoline price remains the same. |
The weighted average import tax applied in the formula for calculating the base price of petroleum products in the first quarter of 2018 was 10% for gasoline, up 1.44% over the previous period; 1.03% for diesel, 0.11% for kerosene and 3.26% for mazut.
The proportion of gasoline from imported sources and domestically produced sources to calculate special consumption tax in the base price of the first quarter of 2018 is 51.36% from imported sources and 48.64% from domestic sources.
The price of ethanol E100 used to calculate the base price is 14,315 VND per liter (excluding VAT).
The executive agency decided to reduce the expenditure level of the Price Stabilization Fund for mineral gasoline to 0 VND/liter; increase the expenditure level of the fund for E5 RON 92 gasoline by 311 VND/liter, to 857 VND/liter. At the same time, reduce the expenditure level of the fund for diesel to 400 VND/liter, keep the expenditure level for kerosene unchanged at 460 VND/liter and increase the expenditure level for mazut by 70 VND to 150 VND/kg.
