Gasoline prices increase from 3pm November 4

Each liter of mineral gasoline increased by 271 VND per liter, to a maximum of 18,146 VND per liter from 3:00 p.m. on November 4.

According to the joint dispatch of the Ministry of Industry and Trade - Ministry of Finance, domestic retail gasoline prices were adjusted from 3:00 p.m. this afternoon, RON 92 gasoline price increased by 271 VND per liter; E5 gasoline increased by 224 VND per liter. Oil products also increased by 199 - 265 VND per liter, kg depending on the type.

After adjusting the price of mineral gasoline to a maximum of VND18,146; E5 gasoline is VND17,858 per liter; diesel is VND14,611 per liter, kerosene is VND13,198 per liter and mazut is VND11,909 per kilogram.

At the same time, the operator only used the Petroleum Price Stabilization Fund for mineral gasoline by 170 VND per liter, up to 300 VND per liter; E5 gasoline by 190 VND per liter, up to 300 VND. The new fund deduction level for diesel is 250 VND per liter, kerosene is 200 VND per liter, and mazut is 270 VND per kilogram.

Each liter of gasoline increased by 271 VND per liter, to a maximum of 18,146 VND/liter.

The basis for the increase in gasoline prices is due to the average price of finished products on the Singapore market over the past 15 days, with mineral gasoline at 69,388 USD per barrel; diesel at 69,866 USD per barrel...

Regarding the weighted average tax applied in calculating the retail price of gasoline, at the regular Government press conference on the evening of November 3, in response to questions from the press, Deputy Minister of Finance Vu Thi Mai said that the current method of calculating import tax "is beneficial to consumers, thereby reducing the selling price".

This tax rate, announced by the Ministry of Finance at the operating session on October 20, is 8.56% (including import tax for Dung Quat at 0%), lower than the preferential import tax rate of 10% from Korea and 20% from the ASEAN region...

"In the last management period, the Ministry of Finance proposed to add the amount of domestically produced gasoline from Dung Quat (currently subject to a 0% tax rate) to the weighted average tax. If Dung Quat is not taxed, the average tax will be higher, the base price will be higher and consumers will suffer," Deputy Minister Vu Thi Mai explained.

Since the beginning of the year, gasoline prices have undergone 21 adjustments, including 9 price increases, 9 price decreases, and 3 price unchanged...

According to VNE