The regulatory agency has just requested businesses to adjust the selling price of RON 92 gasoline to not exceed 13,752 VND per liter before 3:00 p.m. this afternoon.

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The Ministry of Industry and Trade and the Ministry of Finance have just sent an urgent dispatch to businesses, requesting price adjustment.Accordingly, from 3:00 p.m., the retail price of RON 92 gasoline cannot be higher than the base price (13,752 VND per liter, 961 VND lower than before), and E5 gasoline cannot exceed 13,321 VND.

Oil products are required to maintain prices and use the price stabilization fund at 35-589 VND per liter and kilogram, due to the increase in the base prices of these products in the past 2 weeks.

According to the operator's calculations, in the last 15-day cycle, world gasoline prices have tended to decrease. Specifically, the average price of RON 92 gasoline in Singapore in the last 15 days was 40.5 USD per barrel; lower than the average of 45.25 USD in the previous cycle.

Thus, the retail price of gasoline has decreased for the fourth consecutive time since the beginning of 2016. If we count the second half of 2015 until now, gasoline prices have continuously decreased, decreasing 16 times, a total of nearly 8,000 VND per liter.

In the most recent adjustment on February 3, the retail price of RON 92 gasoline applied by the Petroleum Group (Petrolimex) was 14,710 VND per liter, a decrease of 730 VND compared to before. Meanwhile, RON 95 gasoline also decreased accordingly while E5 gasoline decreased by 490 VND, to 14,260 VND per liter. Oil products also decreased by 20-620 VND per liter, kg.

Gasoline prices are now at their lowest since July 2009.

According to VN Express