No increase in petrol prices
Despite the increase in world oil prices, the operator decided to use the stabilization fund to maintain domestic retail prices of gasoline and oil.
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| Instead of increasing prices, the operator has chosen the Petroleum Price Stabilization Fund tool to maintain stability. |
According to information on the management of retail gasoline prices recently released by the Ministry of Industry and Trade - Ministry of Finance, gasoline and oil prices remain unchanged despite the high price increase on the world market. Thus, the price of E5 RON 92 gasoline remains at 16,270 VND per liter, RON 95 is 17,600 VND; diesel is 14,900 VND per liter...
Instead of increasing prices, the operator has chosen the Petroleum Price Stabilization Fund to maintain stability. Specifically, the deduction from the Petroleum Price Stabilization Fund for RON 95 gasoline and other petroleum products has been reduced to 300 VND per liter or kilogram, instead of 500-800 VND per liter or kilogram as in the previous management period.
At the same time, the joint ministries also increased the use of the Price Stabilization Fund. Specifically, the fund release for E5 RON 92 gasoline increased by 912 VND per liter, to 1,462 VND. RON 95 gasoline was "subsidized" by 645 VND per liter from the Price Stabilization Fund. Oil products also increased the fund spending by 295-583 VND per liter, kg depending on the type.
According to the joint ministries, the world price of finished petroleum products has tended to increase since the beginning of 2019. The average world price in the 15 days before January 16 was 58.473 USD per barrel of RON92 gasoline, an increase of 5.12 USD per barrel; 60.492 USD per barrel of RON95 gasoline... The price of ethanol E100 used to calculate the base price of E5 RON92 gasoline is 15,458 VND per liter (excluding VAT).
