Gasoline price decreased by 124 VND/liter from the afternoon of October 20

The Ministry of Industry and Trade and the Ministry of Finance decided to reduce gasoline prices from 4:55 p.m. this afternoon, October 20.

Accordingly, the price of RON 92 gasoline decreased by 124 VND/liter, the selling price is not more than 17,875 VND/liter. The price of E5 gasoline decreased slightly by 97 VND/liter, the selling price is not more than 17,634 VND/liter.

Oil prices also decreased simultaneously. Diesel oil decreased by 178 VND/liter, selling price not exceeding 14,410 VND/liter. Kerosene decreased by 434 VND/liter. Fuel oil decreased by 104 VND/kg, selling price not exceeding 11,644 VND/kg.

In this gasoline price adjustment period, the Joint Ministry continues to use the price stabilization fund. Accordingly, the expenditure level for mineral gasoline is 130 VND/liter; E5 gasoline is 110 VND/liter; diesel is 180 VND/liter; and fuel oil is 100 VND/kg.

According to the Ministry of Industry and Trade, the average price of finished petroleum products in the world in the 15 days before October 20 was 66.98 USD/barrel of RON 92 gasoline; the price of diesel oil was 68.142 USD/barrel.

This time, the Ministry of Finance has provided the Ministry of Industry and Trade with the weighted average tax rate on gasoline as a basis for calculating gasoline prices.

Accordingly, the weighted average tax applied to calculate gasoline prices in the fourth quarter of 2017 is 8.56% (previous quarter was 9.31%), diesel is 2.15%, kerosene is 0.09% and fuel oil is 3.78%. Import tax rates are all lower than in the previous third quarter.

According to VNN