Gasoline prices increased sharply for the second consecutive time, exceeding 21,000 VND/liter.

Accordingly, from 5:00 p.m. today (July 17), E5 gasoline price increased by 626 VND/liter, RON 95-III gasoline increased by 718 VND/liter.

Oil products were also adjusted up slightly. Specifically, diesel increased by 48 VND/liter; kerosene increased by 22 VND/liter; and fuel oil increased by 760 VND/kg.

Thus, the price of E5RON92 gasoline is not higher than VND 20,279/liter, and RON 95 gasoline is not higher than VND 21,235/liter.

Diesel price is not higher than 16,997 VND/liter. Kerosene is not higher than 15,959 VND/liter. Fuel oil is not higher than 15,980 VND/kg.

Gasoline prices increased for the second time after a series of decreases.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance continues to set aside the Petroleum Price Stabilization Fund because this Fund is negative. Specifically, the price for E5 gasoline is 100 VND/liter, and for RON 95 and other types of oil is 500 VND/liter.

Thus, in the face of the situation of a heavily negative price stabilization fund, the recent joint management periods of the Ministry of Industry and Trade and the Ministry of Finance have had to make strong provisions for this fund.

Previously, on July 2, the joint ministries also set aside the Price Stabilization Fund for E5RON92 gasoline at VND200/liter, and set aside the Price Stabilization Fund for RON95 products and other types of oil at VND700/liter.

In the operating period on June 17, when gasoline prices fell sharply, the joint ministries also set aside a huge amount of the Gasoline Price Stabilization Fund. Specifically, the joint ministries set aside a record high of VND900/liter/kg for RON95 and other types of oil from the Gasoline Price Stabilization Fund for RON95 and other types of oil. E5 RON92 gasoline was set aside VND300/liter. This prevented domestic gasoline prices from falling as sharply as world gasoline prices.