Gasoline prices drop to 10-year low
On March 29, the Ministry of Industry and Trade - Ministry of Finance decided to sharply reduce gasoline prices with a very deep reduction.
Specifically, E5RON92 gasoline decreased by VND4,100/liter; RON95-III gasoline decreased by VND4,252/liter; 0.05S diesel decreased by VND1,776/liter; Kerosene decreased by VND2,705/liter; 180CST 3.5S fuel oil decreased by VND1,048/kg.
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| Gasoline prices fell sharply for the sixth consecutive time. |
Thus, the price of E5RON92 gasoline is not higher than 11,956 VND/liter; RON95-III gasoline is not higher than 12,560 VND/liter; Diesel 0.05S is not higher than 11,259 VND/liter; Kerosene is not higher than 9,141 VND/liter;
Mazut oil 180CST 3.5S is not higher than 9,453 VND/kg.
In this adjustment period, gasoline prices may decrease further, but to prevent gasoline prices from rising again in the future, the joint ministries have had to set aside a gasoline price stabilization fund.
Specifically, E5RON92 gasoline is at 300 VND/liter; RON95 gasoline, kerosene and diesel are at 1,150 VND/liter; fuel oil is set at 450 VND/kg.
According to the Ministry of Industry and Trade, the allocation of the Petroleum Price Stabilization Fund at a reasonable level will provide room for regulating petroleum prices in the following periods in the context of unpredictable developments in petroleum prices (currently, world petroleum prices are low, but can increase sharply again at any time).
This is the sixth consecutive time that domestic gasoline prices have dropped sharply. Since the beginning of the year, gasoline prices have undergone six adjustments and all six times have decreased.
After more than 10 years, gasoline prices have witnessed the current low price, bringing gasoline prices close to the price of early 2009.
