Gasoline prices continue to fall sharply
Each liter of RON 95 gasoline decreased by VND1,093 while E5 RON 92 decreased by VND973 from 3:00 p.m. this afternoon (November 21).
The Ministry of Industry and Trade - Ministry of Finance has just announced the adjustment of domestic retail gasoline prices with the decision to reduce all products from 3:00 p.m. this afternoon (November 21). Specifically, E5 RON 92 gasoline decreased by 973 VND per liter, RON 95 gasoline decreased by 1,093 VND; diesel oil by 907 VND; kerosene by 844 VND and mazut oil decreased by 508 VND per kg.
After adjustment, the maximum price per liter of E5 RON 92 gasoline is 18,627 VND; RON 95 is 19,972 VND. Diesel is 16,242 VND; kerosene is 16,242 VND and mazut is 15,186 VND per kg.
This is the second consecutive sharp price reduction in November. Each liter of gasoline after two price reductions is about 2,000 VND lower than last month.
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Along with the price reduction, the Ministry of Industry and Trade - Ministry of Finance also decided to stop using 300 VND per liter for gasoline and oil from the Price Stabilization Fund. At the same time, the deduction level for the Petroleum Stabilization Fund for E5 RON 92 gasoline, kerosene, and mazut remained the same as the previous management period, at 700 VND; 91 VND and 267 VND, respectively.
The fund release rate for RON 95 gasoline is 950 VND per liter; diesel is 500 VND.
According to the regulatory agency, the average price of finished petroleum products in the world in the past 15 days has decreased significantly. Each barrel of RON 92 gasoline (used to blend E5 RON 92 gasoline) is now 69.163 USD; RON 95 is now 70.796 USD per barrel... The price of ethanol E100 used to calculate the base price of E5 RON92 gasoline according to the document dated November 20 of the Ministry of Finance is 14,737 VND per liter (excluding VAT).