No more gas stations will sell RON 92 from 1/1/2018

E5 biofuel currently accounts for 70% of the market. The Ministry of Industry and Trade affirms that there will be no dealers "hoarding" A92 gasoline to continue selling from January 1, 2018.

According to Deputy Minister of Industry and Trade Do Thang Hai, the petroleum industry ensures that from January 1, 2018, A92 gasoline will no longer be sold and will be completely replaced by E5 gasoline. Market management forces will conduct inspections nationwide to ensure that businesses and agents no longer stockpile or sell RON 92 gasoline but must sell E5 gasoline from the first day of the new year 2018.

In Hanoi, Ms. Tran Thi Phuong Lan, Deputy Director of the Department of Industry and Trade, said that the Department has requested gas stations in the city that have sold out of RON 92 gasoline to clean their tanks and import E5 gasoline to replace mineral gasoline from January 1, 2018.

According to the Government's biofuel conversion roadmap, from January 1, 2018, E5 biofuel will be sold to replace all RON 92 gasoline. After this time, there will only be 2 types of gasoline on the market: E5 and RON 95.

However, since December 15, E5 gasoline has been sold widely at the gas stations of major petroleum companies, namely the Vietnam National Petroleum Group (Petrolimex) and the Vietnam Oil Corporation (PVOil). Currently, each liter of E5 gasoline is priced at VND18,240/liter, VND1,000 lower than the price of RON 95 gasoline.

Deputy Minister Hai added that the current provision for the Petroleum Price Stabilization Fund for E5 bio-fuel is equal to that for other petroleum products, at VND300/liter. However, according to Deputy Minister Hai, depending on the time, the provision level will be built to suit people's needs. If the Stabilization Fund has a large surplus, the provision will be stopped and the fund will be released to control the increase in petroleum prices.

In 2017, there were 24 adjustments to domestic gasoline prices. Of these, RON 92 gasoline had 9 price reductions with a total decrease of nearly 2,290 VND/liter; 10 price increases with a total increase of 3,904 VND/liter and 5 times remained stable. In the last two management periods of 2017, gasoline prices remained unchanged.

Compared to the end of 2016, the current retail price of petroleum products has increased by about 921 - 1,748 VND/liter, kg depending on the product.

According to Hoang Duong/Tin Tuc Newspaper