Gasoline prices drop from this afternoon (August 1)

The announcement of the Ministry of Industry and Trade - Ministry of Finance said that from 3:00 p.m. this afternoon (August 1), gasoline prices have decreased by more than 300 VND per liter, while oil prices (except mazut) have increased.

Specifically, each liter of E5 RON 92 gasoline decreased by 377 VND, RON 95 gasoline decreased by 316 VND. Diesel increased by 26 VND and kerosene increased by 7 VND. Meanwhile, mazut oil decreased by 53 VND per kilogram.

After adjustment, E5 RON 92 gasoline is at a maximum of VND19,902 per liter; RON 95 gasoline is VND20,919 per liter. Kerosene and diesel oil increased to VND17,023 and VND15,966 respectively.

Each liter of E5 RON 92 gasoline decreased by 377 VND, RON 95 gasoline decreased by 316 VND, from 3:00 p.m. this afternoon (August 1).

The Joint Ministry still decided to allocate 100 VND per liter for E5 RON 92 gasoline to the Petroleum Price Stabilization Fund. The allocation for RON 95 gasoline is 500 VND per liter. At the same time, no expenditure is made from the Stabilization Fund.

Data from the Ministry of Industry and Trade shows that the average price of finished petroleum products in the world over the past 15 days decreased in the first half of the pricing period but has increased again in recent days, reaching 70.028 USD per barrel of RON 92 gasoline (mixed with E5 RON 92 gasoline). Each barrel of RON 95 decreased by more than 1.6 USD compared to 15 days ago, 72.89 USD per barrel...

Thus, after 3 consecutive price increases, this is the first time gasoline price has decreased since the beginning of June.