Gasoline prices drop from 3pm this afternoon
Each liter of RON 95 gasoline decreased by nearly 600 VND, E5 RON 92 gasoline decreased by 200 VND from 3:00 p.m. this afternoon (May 17).
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According to information from the Ministry of Industry and Trade - Ministry of Finance, domestic retail prices of gasoline and oil have been adjusted down after 3 consecutive increases. Specifically, each liter of E5 RON 92 gasoline decreased by 200 VND, RON 95 gasoline decreased by 592 VND. Oil products decreased by 81-466 VND per liter.
After adjustment, the new selling price of E5 RON 92 gasoline is a maximum of VND 21,599 per liter, and RON 95 gasoline is VND 20,488.
Along with the retail price reduction, the authorities continued to release the Petroleum Price Stabilization Fund in the context that this fund is negative at most petroleum enterprises. Specifically, the Fund's expenditure for E5 RON 92 gasoline is 457 VND per liter, while for RON 95 gasoline it is 0 VND.
The average price of finished petroleum products in the world over the past 15 days has decreased sharply, by 5-6%, which is the reason why domestic retail prices have been adjusted down.
Thus, after 3 consecutive price increases at high levels with a total of more than 3,000 VND per liter, gasoline prices have had their first decrease since mid-March.
