Gasoline and oil prices increased for the third consecutive time
Each liter of domestic retail gasoline is 380-410 VND more expensive, oil products also increased 120-290 VND per liter or kilogram.
According to the adjustment by the Ministry of Industry and Trade - Ministry of Finance, from 3:00 p.m. today (November 1), the price of RON 95-III gasoline increased by 410 VND per liter, to 22,750 VND. E5 RON 92 gasoline also increased by 380 VND, to 21,870 VND. This is the third consecutive price increase of this product since mid-October until now.
Oil products also increased, with diesel at VND290 per liter; kerosene at VND120 and fuel oil at VND190 per kilogram. After adjustment, diesel has a new price of VND25,070; kerosene at VND23,780 and fuel oil at VND14,080.
Compared to January, each liter of RON 95-III gasoline is about VND2,100 cheaper, while diesel is VND6,800 more expensive.
 |
| People refuel on Tran Nao Street (HCMC), October 2022.Photo: Thanh Tung |
Along with the price adjustment, the Ministry of Industry and Trade - Ministry of Finance not only applies to gasoline and oil; the deduction level for RON 95 and fuel oil is reduced while the deduction level for diesel and kerosene is kept the same. Specifically, the deduction level for RON 95-III gasoline is reduced from 400 VND to 300 VND; fuel oil is reduced by 208 VND, to 500 VND.
Domestic gasoline prices have gone through 29 adjustments since the beginning of the year, including 15 increases and 14 decreases.
Gas stations running out of gas or oil in Hanoi, Ho Chi Minh City and some other localities have continued to occur in recent days. Gasoline retailers report that the discount (the amount that the main business cuts back to traders and retail agents) is still very low, and importing goods from the main business is difficult and only a small amount.
In Hanoi, two days before the price adjustment this afternoon, some gas stations hung signs saying "out of gas, oil left"; others limited the amount sold to 30,000 - 50,000 VND per fill-up for motorbikes, and some gas stations even refused to sell to cars, saying "little imported goods".
