Gasoline prices hit highest since the beginning of the year

The price of RON 92 gasoline increased by VND919, to a maximum of VND17,594 per liter from 3:00 p.m. on December 20. E5 gasoline increased by VND800 per liter, and oil products increased by VND672-761 depending on the type.

The Ministry of Industry and Trade and the Ministry of Finance have just issued a document directing the adjustment of domestic retail gasoline prices. Each liter of RON 92 gasoline has been increased by VND919 to a maximum of VND17,594 per liter. E5 gasoline has increased by VND800, the new selling price will not be higher than VND17,322 per liter.This is the highest price since the beginning of the year.

Similarly, oil prices also increased by VND672-761 per liter or kilogram depending on the type. After the price adjustment, kerosene prices will not exceed VND11,943 per liter; diesel is VND13,433 per liter and mazut is VND10,634 per kilogram.

Gasoline prices increased by 900 VND per liter from 3:00 p.m. this afternoon.

Along with that, the joint ministries also decided to keep the same level of the fund for stabilizing gasoline prices for all products (VND300 per liter, kg). However, the level of spending on the fund for stabilizing gasoline was increased by VND100 per liter for mineral gasoline; VND150 per liter for E5 gasoline. The level of spending on kerosene increased by VND90 per liter and on mazut increased by VND150 per kg compared to the previous period. The fund spending level for diesel oil was kept unchanged at VND250 per liter.

The sharp increase in world oil prices in the recent pricing period is believed to be the reason why the operator had to increase domestic prices. Specifically, on December 20, one day before the new cycle of oil price adjustment, the price of RON 92 gasoline in the Singapore market was above 63.45 USD per barrel. At times in the past 15 days, the price of mineral gasoline approached the threshold of 65 USD per barrel.

After OPEC's decision to cut production on November 30, gasoline and oil prices on the world market have continued to increase.

Since the beginning of the year, domestic gasoline prices have been adjusted 23 times, with 13 increases and 10 decreases.

According to VNE