Gasoline prices will be reduced for the second consecutive time starting this afternoon, February 29th.
From 3 PM on February 29th, the price of E5RON92 gasoline was adjusted down by 157 VND/liter, while RON 95 gasoline decreased by 253 VND/liter.
The Ministry of Industry and Trade and the Ministry of Finance have just issued a document regarding the adjustment of retail prices for petroleum products.
Accordingly, from 3 PM today (February 29th), the price of E5RON92 gasoline will be reduced by 157 VND/liter; while RON 95 gasoline will be reduced by 253 VND/liter.
Diesel fuel prices decreased by 390 VND/liter; kerosene prices decreased by 278 VND/liter. Only fuel oil prices increased by 102 VND/kg.
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| Gasoline prices continued to fall from 3 PM on February 29th. |
Therefore, after the price reduction, the price of E5RON92 gasoline will not exceed 18,346 VND/liter; RON95 gasoline will be 19,127 VND/liter; diesel fuel will be 14,785 VND/liter; kerosene will be 13,676 VND/liter; and fuel oil will be 11,754 VND/kg.
Data from the Ministry of Industry and Trade shows that, over the past 15 days, the average price of refined gasoline in the Singapore market during this cycle has tended to increase slightly compared to the average price of the previous 15 days.
Accordingly, the average price of finished gasoline in the Singapore market during this cycle was $63.4 USD/barrel for RON 92, a decrease of 0.4% compared to the previous cycle. RON 95 gasoline was priced at $65.45 USD/barrel, a decrease of 0.7% compared to the previous cycle.
Meanwhile, world oil prices are on a sharp downward trend amid the increasingly widespread and complex development of the Covid-19 pandemic.
In the most recent fuel price adjustment on February 14th, the Ministry of Finance and the Ministry of Industry and Trade decided to significantly reduce fuel prices. As a result, domestic retail gasoline prices are at their lowest level in the past year.
Specifically, E5RON92 gasoline decreased by 765 VND/liter; RON95-III gasoline decreased by 742 VND/liter. Diesel fuel decreased by 961 VND/liter; kerosene decreased by 1,108 VND/liter; and fuel oil decreased by 792 VND/kg.
After the adjustment, the selling price of E5RON92 gasoline will not exceed 18,503 VND/liter; RON95-III gasoline will not exceed 19,380 VND/liter; 0.05S diesel fuel will not exceed 15,175 VND/liter; kerosene will not exceed 13,954 VND/liter; and 180CST 3.5S fuel oil will not exceed 11,652 VND/kg.
