Gasoline and oil prices remain unchanged before Tet
The Ministry of Industry and Trade and the Ministry of Finance have announced information on the management of gasoline and oil prices since 3:00 p.m. on February 3, 2018. Accordingly, all gasoline and oil products will have their prices stabilized.
The Joint Ministry also decided to maintain the current level of the Petroleum Price Stabilization Fund for petroleum products. The expenditure for using the Petroleum Price Stabilization Fund for E5 gasoline is 1,141 VND/liter (previous period was 857 VND/liter); RON95 gasoline is 400 VND/liter; diesel is 678 VND/liter (previous period was 400 VND/liter)...
After adjustment, the prices of popular petroleum products on the market will not be higher than the following prices: E5 gasoline will not be higher than VND 18,672/liter; 0.05S diesel will not be higher than VND 15,959/liter; kerosene will not be higher than VND 14,560/liter...
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According to the joint ministries, the average price of finished petroleum products in the world in the 15 days before February 3, 2018 was 78.039 USD/barrel of RON 92 gasoline (base gasoline to make E5 gasoline), an increase of nearly 2 USD/barrel; 81.978 USD/barrel of 0.05S diesel, an increase of nearly 2 USD/barrel compared to the previous period...
The price of E100 ethanol used to calculate the base price of E5 gasoline according to Official Dispatch No. 1229/BTC-QLG dated February 1, 2018 of the Ministry of Finance on petroleum business management is 13,821.5 VND/liter (excluding VAT).
In order to manage gasoline prices according to the market mechanism under state management, contribute to controlling inflation, limit the increase of CPI, contribute to supporting production and business enterprises, stabilize consumer psychology, contribute to helping people have a warm and happy Tet holiday..., the joint ministries decided to keep prices of all gasoline products stable.
In 2017, gasoline prices were adjusted 24 times, with 9 increases; 9 decreases, and the rest remained unchanged. Compared to the same period in early 2017, E5 gasoline prices are now nearly 1,500 VND/liter higher, and kerosene prices are nearly 2,500 VND/liter higher...
The time for setting up and using the Petroleum Price Stabilization Fund for petroleum products is applied from 3:00 p.m. on February 3, 2018. The adjustment of the selling price of petroleum products is determined by the petroleum trading principal, but not earlier than 3:00 p.m. on February 3, 2018.
The adjustment of selling prices of petroleum products is decided by the petroleum trading principal in accordance with the provisions of Decree No. 83/2014/ND-CP, Joint Circular No. 39/2014/TTLT-BCT-BTC, Joint Circular No. 90/2016/TTLT-BCT-BTC.
