Keep gasoline and diesel prices down 213 VND per liter
According to the decision of the Ministry of Industry and Trade - Ministry of Finance, from 3:00 p.m. today, the retail price of gasoline will remain the same while the price of 0.05S diesel will decrease by 213 VND/liter to 17,242 VND/liter. Kerosene will decrease by 69 VND, to no higher than 16,174 VND/liter.
According to the joint decision, after setting aside and using the Petroleum Price Stabilization Fund, the retail prices of E5 RON92 and RON95-III gasoline will remain the same as current prices of no more than VND 19,611/liter and VND 21,177/liter, respectively.
The retail price of diesel 0.05S decreased by VND213/liter to no higher than VND17,242/liter while kerosene decreased by VND69/liter to VND16,174/liter. The price of fuel oil 180CST 3.5S that businesses are allowed to keep unchanged is no higher than VND14,756/kg.
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| From 3pm today, diesel oil decreased by 213 VND to 17,242 VND/liter. |
The joint ministries also requested businesses to maintain the current level of the Petroleum Price Stabilization Fund. Businesses are allowed to use the Petroleum Price Stabilization Fund at VND853/liter for E5 RON92 gasoline (previously, they used VND922/liter).
RON95 gasoline is spent at 95 VND/liter (previous period spent at 161 VND/liter). The expenditure level for using the Petroleum Price Stabilization Fund for fuel oil has decreased to 70 VND/kg (previous period spent at 186 VND/kg).
The Ministry of Industry and Trade also said that the average price of finished petroleum products in the world in the past 15 days was at 80.248 USD/barrel of RON92 gasoline; 82.109 USD/barrel of RON95 gasoline and 84.680 USD/barrel of 0.05S diesel.
Data from the management agency shows that the exchange rate of the Vietnamese Dong (VND) against the US Dollar (USD) has continued to increase recently. The average USD/VND exchange rate for bank transfer of the Joint Stock Commercial Bank for Foreign Trade of Vietnam in the past 15 days was 1USD equal to 23,005VND (an increase of 135VND/1USD compared to the previous period).
The price of E100 ethanol used to calculate the base price of E5 RON92 gasoline according to Official Dispatch No. 859/BTC-QLG dated July 23, 2018 of the Ministry of Finance on petroleum business management is VND 14,916/liter (excluding VAT).
The Ministry of Industry and Trade also said that the Petroleum Price Stabilization Fund has been continuously used in recent times to limit the impact of rising world petroleum product prices on domestic petroleum prices, contributing to controlling inflation. In the previous management period, the Petroleum Price Stabilization Fund used 922 VND/liter of E5 RON92 gasoline; 161 VND/liter of RON95 gasoline; 186 VND/kg of fuel oil.
