Fuel prices continue to fall, with RON95 now priced at 23,020 VND/liter.
Domestic fuel prices today (November 23) were adjusted downwards by the inter-ministerial committee of Industry and Trade - Finance. Specifically, RON95 gasoline decreased by 510 VND, while diesel decreased by 600 VND per liter.
Based on the directives of the Ministry of Industry and Trade and the Ministry of Finance, businesses will simultaneously adjust gasoline and diesel prices starting at 3 PM today.
Accordingly, the price of E5 gasoline decreased by 580 VND/liter, with a selling price of 21,690 VND/liter. RON95 gasoline decreased by 510 VND/liter, with a selling price of 23,020 VND/liter.
Diesel fuel prices have decreased by 600 VND/liter, with the selling price now at 20,280 VND/liter.
In this price adjustment period, the inter-ministerial committee continued to suspend the allocation of funds to the Fuel Price Stabilization Fund and also did not disburse any funds from the fund.
In the previous price adjustment (November 13th), the price of E5 gasoline decreased by 340 VND/liter; RON95 gasoline decreased by 390 VND/liter; and the price of diesel decreased by as much as 1,060 VND/liter.
Recently, the Government issued Decree No. 80/2023 amending and supplementing a number of articles of Government Decrees 95 and 83 on gasoline and oil business. This is the first price adjustment period under the new regulations.
Accordingly, gasoline and diesel prices are adjusted every Thursday. If the price adjustment coincides with the Lunar New Year, the following applies: If Thursday falls on the last day of the lunar year (the 29th or 30th of the Lunar New Year), the price adjustment is made on the preceding Wednesday. If Thursday falls on the 1st, 2nd, or 3rd day of the Lunar New Year, the price adjustment is made on the 4th day of the Lunar New Year.
In cases where the price adjustment period coincides with a public holiday, the following procedure applies: If Thursday falls on the first day of a public holiday, the fuel price adjustment will be implemented on the immediately preceding Wednesday.
If Thursday falls on a public holiday, the adjustment of gasoline and diesel prices will be implemented on the first working day after the holiday.
In cases where gasoline and diesel prices fluctuate unusually, affecting socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on an appropriate timeframe for adjusting gasoline and diesel prices.
Therefore, after Decree 80 comes into effect, gasoline and diesel prices will be adjusted every Thursday.
