Gasoline prices dropped more than 300 VND/liter from 3:00 p.m. on May 5.

According to the announcement of the Ministry of Finance - Industry and Trade, from 3:00 p.m. on May 5, gasoline prices continued to decrease. The sharpest decrease was in E5 gasoline with a decrease of 314 VND/liter, A92 gasoline decreased by 309 VND, bringing the current retail price from 17,580 VND/liter (zone 1) down to only 17,230 VND/liter.

In the previous 3 times, the smallest decrease in gasoline price was 70 VND/liter on March 6 and the highest decrease was 710 VND/liter on March 21.

In 2017, since the adjustment on January 4, the price of gasoline has been adjusted 8 times. Of which, for gasoline alone, the price has been kept the same 2 times and the price has been reduced 4 times. The price of the remaining three oil products has been increased 5 times.

Gasoline price decreased by 310 VND/liter for the 4th time in 2017.

Specifically, RON 92 gasoline decreased by 309 VND/liter, E5 gasoline: decreased by 314 VND/liter. After making provisions and spending the Retail Price Stabilization Fund, RON 92 gasoline decreased to a maximum of 17,274 VND/liter, E5 gasoline was 17,068 VND/liter.

Oil products also decreased simultaneously, the lowest was fuel oil down 64 VND/kg, diesel oil: down 216 VND/liter, kerosene oil decreased the most by 285 VND/liter. After setting aside the stabilization fund, diesel oil price is not higher than 13,603 VND/liter, kerosene oil is not higher than 12,053 VND/liter, fuel oil is not higher than 10,902 VND/kg.

The adjustment of selling prices of petroleum products is determined by the petroleum trading principal but no later than 15:00 on May 5, 2017.

According to calculations, the price of A92 gasoline in the Singapore market in the past 15 days has decreased by 4 USD/barrel and is currently at an average of 62,147 USD/barrel. Diesel oil is trading at an average of 62,518 USD/barrel, kerosene is at an average of 61,433 USD/barrel and mazut is at an average of 304,193 USD/ton.

According to Young Knowledge