According to Decree 80/2023/ND-CP, the time for managing gasoline prices is implemented every Thursday. If Thursday is the 1st, 2nd or 3rd day of Tet, the time for managing gasoline prices is implemented on the 4th day of Tet.

On the occasion of Lunar New Year 2025, Thursday is January 30, the second day of Tet. Based on the above regulations, the time for adjusting gasoline prices will be implemented on the fourth day of Tet, which is February 1. The next adjustment of gasoline prices will be on February 6.

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Gasoline prices have been adjusted down. Photo: Luong Bang

Based on the direction of the Ministry of Industry and Trade - Ministry of Finance, petroleum businesses will simultaneously adjust petroleum prices from 3:00 p.m. today (February 1, the 4th day of Tet).

Compared to the previous adjustment period, in today's adjustment period, the price of E5 gasoline was adjusted down by 200 VND/liter, to 20,390 VND/liter. The price of RON 95 gasoline also decreased by 140 VND/liter, selling price is 21,000 VND/liter.

Similarly, diesel price was adjusted down to 950 VND/liter, selling price to 19,240 VND/liter.

Like previous operating periods, in today's operating period, the joint Ministry of Industry and Trade - Ministry of Finance did not allocate or spend from the Price Stabilization Fund for petroleum products.

In the most recent adjustment period (January 23), the price of E5 gasoline was adjusted down by 160 VND/liter, to 20,590 VND/liter. The price of RON 95 gasoline also decreased by 80 VND/liter, selling price is 21,140 VND/liter.

Meanwhile, diesel price was adjusted up by 410 VND/liter, selling price up to 20,190 VND/liter.

How will gasoline prices be adjusted during the Lunar New Year holiday? According to the Domestic Market Department, the next gasoline price adjustment period after the adjustment period on January 23 will be implemented on Saturday, February 1, 2025 (ie the 4th day of the Lunar New Year).