Gasoline price reduced by 340 VND per liter

The retail price of each liter of RON 92 gasoline returned to the common level of 16,160 VND per liter from this afternoon (June 20), while the price of diesel oil increased by nearly 400 VND.

The above prices were announced by the Vietnam National Petroleum Group (Petrolimex) and other key enterprises to be applied from 3:00 p.m. The specific prices for petroleum products are as follows:

Previously, the Ministry of Industry and Trade - Ministry of Finance sent a document to businesses regarding the adjustment of retail prices. Accordingly, due to the downward trend of gasoline prices in the world market in the past 15-day price calculation period (down over 1.6 USD per barrel for RON 92 gasoline), while the prices of other petroleum products increased, the management agency made a decision to adjust the prices of these two products in opposite directions.

Specifically, the retail price of each liter of RON 92 gasoline will be at a maximum of 16,168 VND per liter. Meanwhile, oil products will increase by 350-390 VND per liter and kilogram. The selling price of diesel is 12,298 VND per liter, while kerosene is 10,667 VND, and mazut is 8,741 VND per kilogram.

The retail price of RON 92 gasoline is currently about 200 VND per liter lower than at the end of 2015. Photo: Ngoc Thanh

Along with adjusting retail prices, the regulatory agency also decided to maintain the price stabilization fund usage level for gasoline (639-672 VND per liter) and reduce the usage level for oil, such as diesel, from 846 VND per liter to 595 VND.

According to the regulator's calculations, the average price of finished petroleum products in the world over the past 15-day period was nearly 56.47 USD per barrel of RON 92 gasoline; 58.43 USD per barrel of diesel; 58.58 USD per barrel of kerosene and 237.6 USD per ton of fuel oil.

This figure is equivalent to the base price in this adjustment period of 16,807 VND per liter of gasoline, 341 VND lower than the previous period.Similarly, the price difference between the two operating periods for E5 gasoline is -336 VND per liter, diesel is 109 VND per liter higher, kerosene is 67 VND and mazut is 178 VND per kg.

Retail price of gasoline from the beginning of 2015 to present.

Since the beginning of 2016, the retail price of RON 92 gasoline has undergone 11 adjustments (5 increases, 6 decreases) and is lower than the end of 2015 by more than 200 VND per liter.

According to VNE