Gasoline price fluctuations at the beginning of 2018
The Ministry of Industry and Trade and the Ministry of Finance have decided to adjust gasoline and diesel prices from 3 PM today, January 4th. This is the first price adjustment period in which RON 92 gasoline is discontinued.
The inter-ministerial committee decided to keep the price of E5 RON 92 gasoline stable, at a maximum of 18,243 VND/liter. Prices for other petroleum products increased, specifically by 360 VND/liter for diesel, 495 VND/liter for kerosene, and 235 VND/kg for fuel oil.
After the adjustment, the price of E5 RON 92 gasoline will not exceed 18,243 VND/liter; diesel fuel 15,529 VND/liter; kerosene 14,112 VND/liter; and fuel oil 12,617 VND/kg.
According to the Ministry of Industry and Trade, the average price of refined petroleum products in the world over the past 15 days was nearly $73.78 per barrel for RON 92 (the base gasoline for blending E5 RON 92), and $77.47 per barrel for diesel fuel,...
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| The price of E5 gasoline remains unchanged. |
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, an increase of 1.44% compared to the previous period; 1.03% for diesel, 0.11% for kerosene, and 3.26% for fuel oil.
The proportion of gasoline from imported sources and domestically produced sources used to calculate excise tax in the base price for the first quarter of 2018 was 51.36% from imported sources and 48.64% from domestic sources.
The price of E100 ethanol used in calculating the base price is 14,315 VND per liter (excluding VAT).
The regulatory agency decided to reduce the price stabilization fund contribution for gasoline to 0 VND/liter; increase the contribution for E5 RON 92 gasoline by 311 VND/liter, to 857 VND/liter. At the same time, the contribution for diesel fuel was reduced to 400 VND/liter, kerosene remained at 460 VND/liter, and fuel oil was increased by 70 VND to 150 VND/kg.
