Gasoline price drops another 900 VND per liter
From 3pm today, each liter of gasoline will decrease by more than 900 VND, oil will also decrease by 1,000-1,210 VND (except fuel oil).
After adjustment ofMinistry of Industry and Trade - Finance, each liter of RON 95-III gasoline decreased to 24,660 VND (down 940 VND); E5 RON 92 has a new price of 23,720 VND (down 900 VND). This is the 5th consecutive price reduction since the end of June until now, bringing the price of this item to the same level as in October 2021.
At the same time, oil products also cooled down compared to 10 days ago. Accordingly, the price of diesel oil decreased by 1,000 VND per liter, to 22,900 VND. Kerosene also decreased by 1,210 VND, to 23,320 VND per liter. Only fuel oil kept the same selling price, 16,540 VND per kilogram as 10 days ago.
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Compared to the end of June, each liter of RON 95-III is about 8,210 VND cheaper; E5 RON 92 is down 7,580 VND; diesel is down 7,110 VND. With current prices,Gasoline pricehas returned to the same level as at the end of last year and January of this year, before the Russia-Ukraine conflict.
This time, the management agency reduced the deduction level for the Price Stabilization Fund by 70-100 VND per liter and kilogram compared to the previous management period. Specifically, for E5 RON 92 gasoline, it is 700 VND and RON 95-III is 750 VND; 350 VND for diesel, 650 VND for kerosene and 716 VND per kilogram for fuel oil. Today, there is no spending from the Price Stabilization Fund for all items.
According to the Ministry of Industry and Trade - Ministry of Finance, the trend of finished petroleum prices on the world market in the past 10 days has decreased. The average price of each barrel of RON 92 gasoline (the type used to blend E5 RON 92) decreased to 105.92 USD. Each barrel of RON 95 is at 109.92 USD. Diesel oil decreased the most, by nearly 6 USD, to 124.99 USD.
After five times of allocation since the end of June, the Petroleum Price Stabilization Fund at many major trading enterprises has started to turn positive again. For example, at Petrolimex - an enterprise that accounts for over 40% of the domestic petroleum retail market share - the balance of the Petroleum Price Stabilization Fund before the price adjustment on August 11 was positive at VND473 billion.
