Gasoline prices unexpectedly dropped sharply from the afternoon of the 29th of Tet

On the afternoon of February 8, the Ministry of Industry and Trade and the Ministry of Finance jointly announced information on gasoline price management, effective from 3:00 p.m. the same day. Notably, after a sharp increase in prices during the management period on February 1, gasoline prices in this management period suddenly decreased sharply.

Giá xăng dầu bất ngờ giảm mạnh từ chiều 29 tết- Ảnh 1. — Gasoline prices drop sharply from 3pm on February 8

According to the Ministry of Industry and Trade - Ministry of Finance, the world oil market during the period from February 1 to 7 was affected by factors such as information about ceasefire negotiations in the Gaza Strip, conflicts in the Red Sea region, increased oil inventories in the US, oil refineries in the US being overhauled, fire at oil refineries in Russia, continued difficulties in the Chinese economy that could limit oil demand... causing world oil prices to increase and decrease alternately, but generally decrease.

Therefore, the Ministry of Industry and Trade - Ministry of Finance decided to set aside the Petroleum Price Stabilization Fund for fuel oil at 300 VND/kg; not to set aside the fund for E5RON 92 gasoline, RON 95 gasoline, diesel oil and kerosene; and not to spend the fund for gasoline.

After making provisions for the Petroleum Price Stabilization Fund, the selling price of E5RON 92 gasoline will not be higher than VND22,120/liter, a decrease of VND793/liter compared to the current selling price. The price of RON 95 gasoline will not be higher than VND23,262/liter, a decrease of VND898/liter.

Diesel price is no higher than 20,707 VND/liter, down 292 VND/liter. Kerosene price is no higher than 20,588 VND/liter, down 335 VND/liter. Fuel oil price is no higher than 15,598 VND/kg, down 489 VND/kg.

The Ministry of Industry and Trade and the Ministry of Finance said that the above-mentioned plan to manage gasoline prices aims to ensure the harmony of interests among market participants, support gasoline businesses to maintain and supply gasoline to the domestic market; and minimize negative impacts on socio-economic development, production and business activities and people's lives.

Previously, at the end of January, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan signed an urgent document sent to enterprises and key traders producing and trading petroleum, requesting to ensure the supply of petroleum for production, business and consumption during the Lunar New Year.

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