Gasoline price up to nearly 30,000 VND per liter
From 3:00 p.m. today, each liter of RON 95 gasoline increased by VND1,550 to VND29,980 - the highest level ever.
The Ministry of Industry and Trade - Ministry of Finance today increased 1,490 VND per liter of E5 RON 92 gasoline, increased 1,550 VND for RON95 gasoline. Thus, today's gasoline price is 28,950 VND per liter (with E5 RON92) and 29,980 VND (RON95). This is a consecutive price increase since the end of April and after this increase,RON95 gasoline pricehas set a new peak, 160 VND per liter higher than the peak set in mid-March. E5 RON92 is about 30 VND per liter lower than the peak in March.
Kerosene is 25,160 VND per liter, an increase of 1,340 VND. Diesel is 26,650 VND per liter, an increase of 1,120 VND. Only mazut remains the same at 21,560 VND per kilogram.
The executive agency continues not to spend the Price Stabilization Fund on gasoline and diesel. The fund spending level for kerosene increased to 300 VND per liter (previous period was 0 VND), and mazut was 33 VND (previous period was 0 VND). The fund deduction level for RON95 gasoline, E5 RON92 gasoline and diesel is 100 VND per liter. Kerosene and mazut are not deducted from the fund.
Currently, some key petroleum trading enterprises are in the negative balance of the Stabilization Fund. For example, at Petrolimex, the enterprise that accounts for about 48% of the domestic petroleum retail market share, before 3 p.m. today, it was negative 53 billion VND.Petroleum price stabilization fund.
The Ministry of Industry and Trade and the Ministry of Finance said that the world oil market has had many big fluctuations due to geopolitical instability and the EU's proposal to embargo oil from Russia, or OPEC not increasing production as proposed by the EU. The US's announcement to buy an additional 60 million barrels of crude oil to supplement the emergency reserve also made the oil supply more scarce.
These factors have pushed up the price of finished petroleum products. Compared to last week, the price of RON92 gasoline - the type used to blend E5 RON92 - increased by nearly 8.3% per barrel, RON95 increased by 8.2%, diesel by 5%...
