Gasoline and oil prices rise again
Each liter of RON 95 gasoline and E5 RON 92 increased by 560 VND, while oil became more expensive by 1,140-1,960 VND (except for fuel oil).
Each liter of RON 95 gasoline and E5 RON 92 increased by 560 VND, while oil became more expensive by 1,140-1,960 VND (except for fuel oil).
After adjustment, from 3:00 p.m. this afternoon, each literRON 95 gasolineThe new price is 22,000 VND; E5 RON 92 gasoline is 21,290 VND.
RON 95-III is a popular type, accounting for over 60% of gasoline sold on the market and is jointly managed by the Ministry of Industry and Trade and the Ministry of Finance. With today's increase, the price of RON 95 gasoline has returned to 22,000 VND, the same price as in December 2021.
In today's operating period, all oil products increased sharply (except fuel oil). Accordingly, diesel increased by 1,960 VND per liter, to 24,160 VND; kerosene increased by 1,140 VND, with a new price of 22,820 VND. Only fuel oil remained at the same price of 14,090 VND per kg.
With this adjustment, diesel price is more expensive than gasoline price by over 2,000 VND per liter, the same price as April this year.
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| People buy gasoline at a gas station on Truong Chinh Street, Tan Binh District, October 10, 2022. Photo: Quynh Tran |
Today, the Ministry of Industry and Trade - Ministry of Finance continues not to use the Price Stabilization Fund for gasoline. For oil, except kerosene and fuel oil, the spending level remains 0 VND as in previous management periods. The authorities spend the Price Stabilization Fund again on diesel, at 200 VND per liter.
Today, the operator also increased the cost of transporting gasoline from the factory to the port and the domestic premium (the average cost of gasoline that the main enterprise must pay to the refinery or the unit that consumes the refinery's products) at the base price.
Accordingly, domestic premium for RON92 gasoline (base gasoline blended with E5 RON92), RON95 increased by 350 VND, to 1,320 - 1,340 VND per liter; diesel is 30 VND per liter; kerosene and fuel oil are 0 VND. The cost of transporting gasoline from domestic refineries to ports with RON92 gasoline (base gasoline for blending E5RON92) increased by 40 VND to 290 VND per liter; RON 95 increased by 70 VND to 280 VND per liter; diesel is 240 VND; kerosene and fuel oil are 0 VND.
The gasoline market, especially in the Southern region, has been experiencing a shortage of gasoline since the October 3rd management period, with stores closed. By the end of October 10th, Ho Chi Minh City had 121 closed gas stations, out of stock. Not only in Ho Chi Minh City, the shortage of gasoline retail stores has also spread to several localities such as Binh Duong, Dong Nai, Binh Phuoc, Kien Giang, An Giang...
However, the Ministry of Industry and Trade said that the gasoline shortage "is not widespread, because only more than 100 out of 17,000 stores operating nationwide have closed."
Over the past two days, major key enterprises have shared their sources of goods with distributors to ensure supply. In Ho Chi Minh City, the amount of goods supplied by PVOIL increased by nearly 30%. Petrolimex Saigon also increased sales by 50% compared to normal days, reaching an output of 2,100 m3on October 10. Petrolimex Saigon leaders said that goods are continuously arriving at the warehouse and are still being urgently supplied to stores in the system.
As of this morning, a few hours before the price adjustment, people in Ho Chi Minh City were still seen rushing to buy gasoline, causing many gas stations to be crowded and barriers had to be used to separate customers.
Hanoi also recorded a situation where people rushed to buy gasoline before the price increase, queuing up in long lines at stores in the city center./.
