No increase in A95 and E5 gasoline prices
Although the foreign exchange rate for calculating import tax and special consumption tax has increased, the Ministry of Industry and Trade - Ministry of Finance has requested that petroleum key enterprises not increase selling prices, including A95 gasoline.
The Ministry of Industry and Trade - Ministry of Finance has just issued a statement on domestic gasoline price management.
Accordingly, the joint ministries allow businesses to spend the price stabilization fund on E5 gasoline at 669 VND/liter, diesel at 177 VND/liter, kerosene at 34 VND/liter and mazut at 96 VND/kg.
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After the stabilization fund is spent, domestic retail gasoline prices remain unchanged. Specifically, E5 gasoline will not be higher than VND18,340/liter; diesel will not be higher than VND15,716/liter; kerosene will not be higher than VND154,560/liter and mazut will not be higher than VND12,528/kg. The implementation will take place from 3 p.m. on March 23.
Regarding A95 gasoline, according to the joint ministries, through monitoring, the average price of A95 gasoline in the world is 76 USD/barrel (down 0.004 USD/barrel, equivalent to 0.01%). However, the foreign exchange rate to calculate port prices, import tax, and special consumption tax this period increased 0.1% compared to the previous period, so the selling price of A95 gasoline this period increased compared to the previous period.
Specifically, the average foreign exchange rate for calculating CIF price this period is 22,979 VND/USD (an increase of 32.91 VND/USD, equivalent to 0.1% compared to the previous period); the average foreign exchange rate for calculating import tax and special consumption tax this period is 22,721 VND/USD (an increase of 17.27 VND/USD, equivalent to 0.1% compared to the previous period).
However, implementing the Government's direction, in the first quarter of 2018, not to increase taxes, prices, and fees on essential goods and services managed by the State, the joint ministries requested key enterprises to keep the selling price of A95 gasoline stable and spend the price stabilization fund at 92 VND/liter.
In the previous executive order (March 8), the Ministry of Industry and Trade and the Ministry of Finance requested key petroleum trading enterprises to keep the selling prices of domestic petroleum products unchanged.
