Gasoline and diesel prices have increased for the third consecutive time.
Each liter of gasoline sold at retail in the country has become more expensive by 380-410 VND, while other petroleum products have also increased by 120-290 VND per liter or kilogram.
According to adjustments by the Ministry of Industry and Trade and the Ministry of Finance, from 3 PM today (November 1st), the price of RON 95-III gasoline will increase by 410 VND per liter, reaching 22,750 VND. E5 RON 92 gasoline will also increase by 380 VND, to 21,870 VND. This is the third consecutive price increase for this product since mid-October.
Oil prices also increased, with diesel at 290 dong per liter; kerosene at 120 dong and fuel oil at 190 dong per kilogram. After the adjustment, the new prices are 25,070 dong for diesel, 23,780 dong for kerosene, and 14,080 dong for fuel oil.
Compared to January, RON 95-III gasoline is about 2,100 VND cheaper per liter, while diesel is 6,800 VND more expensive.
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| People refuel their cars on Tran Nao Street (Ho Chi Minh City), October 2022.Photo: Thanh Tung |
Along with price adjustments, the inter-ministerial committee of Industry and Trade - Finance not only applied these changes to gasoline and diesel but also reduced the contribution rate for RON 95 and fuel oil while maintaining the same rate for diesel and kerosene. Specifically, the contribution rate for RON 95-III gasoline decreased from 400 VND to 300 VND; and for fuel oil, it decreased by 208 VND to 500 VND.
Domestic fuel prices have undergone 29 adjustments since the beginning of the year, including 15 increases and 14 decreases.
Gasoline shortages and fuel outages continue in Hanoi, Ho Chi Minh City, and several other localities in recent days. Retail fuel businesses report that the discounts (the amount that wholesale distributors give to retailers and dealers) remain very low, and importing fuel from suppliers is difficult and limited.
In Hanoi, two days before today's price adjustment, some gas stations displayed signs saying "out of gasoline, only diesel available"; others limited sales to 30,000-50,000 VND per refueling for motorbikes, and some even refused to sell to cars, citing "limited supply."
