Today, September 6, gasoline prices enter a period of strong increase.

According to data from the Ministry of Industry and Trade, the average price of finished gasoline in the Singapore market in the new cycle with RON 92 gasoline averaging around 84.3-84.5 USD/barrel, an increase of nearly 3 USD/barrel compared to the previous period. RON 92 gasoline is the base gasoline for blending E5RON92 gasoline, in the adjustment period on September 6, gasoline prices may move in an upward direction.

Today, September 6, gasoline prices enter a period of strong increase.

In fact, since June 22, although world oil prices have fluctuated upward, domestic gasoline prices have always remained unchanged at no more than VND19,611/liter. The reason is that the regulatory agency has continuously released the gasoline price stabilization fund with large expenditures, and at many times the price stabilization expenditure for gasoline has been consistently maintained at over VND1,000/liter.

In the price adjustment session on August 22, to maintain gasoline prices, the Ministry of Industry and Trade - Ministry of Finance also had to spend the price stabilization fund on gasoline at 1,272 VND/liter.

Therefore, if this fund release level continues to be maintained at a high level, the gasoline price on September 6 will fluctuate at a moderate level.

The Price Management Department (Ministry of Finance) said that by the end of the second quarter of 2018 (until June 30, 2018), the balance of the Petroleum Price Stabilization Fund was at VND3,812 billion, a decrease of nearly VND1,300 billion compared to the end of 2017.

Curbing domestic gasoline prices is one of the measures to keep inflation under control, as over the past 8 months inflation has nearly approached the ceiling allowed by the National Assembly (no more than 4%).