The Domestic Market Department (Ministry of Industry and Trade) has just sent a document to the Department of Industry and Trade of provinces and centrally-run cities; key petroleum traders; and petroleum distributors regarding the time of managing petroleum prices during the 2025 Lunar New Year holiday.

This unit said that Decree 80/2023/ND-CP stipulates the time for managing gasoline prices as follows: The time for managing gasoline prices is implemented every Thursday.

In case the price management period coincides with the Lunar New Year holiday, it will be implemented as follows: If Thursday falls on the last day of the Lunar New Year (29th or 30th of Lunar New Year), the petrol price management will be implemented on the preceding Wednesday. If Thursday falls on the 1st, 2nd or 3rd day of Lunar New Year, the petrol price management period will be implemented on the 4th day of Lunar New Year.

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The next gasoline price adjustment period after the adjustment period on January 23 will be implemented on Saturday, February 1, 2025. Photo: Nguyen Hue

In case the price management period coincides with a holiday according to regulations, it will be implemented as follows: If Thursday coincides with the first day of the holiday, the petrol price management period will be implemented on the preceding Wednesday. If Thursday coincides with the remaining holidays, the petrol price management period will be implemented on the first working day after the holiday.

In case the price of petroleum products fluctuates abnormally, affecting socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on the appropriate time to manage petroleum prices.

According to current regulations, Thursday, January 30, 2025 is a Lunar New Year holiday (the 2nd day of the Lunar New Year). Therefore, the management of gasoline prices following the management period on January 23, 2025 will be implemented on Saturday, February 1, 2025 (the 4th day of the Lunar New Year).

In the operating period on 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.

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

RON 95 gasoline price decreased to nearly 21,000 VND/liter. RON 95 gasoline price at today's adjustment period (January 23) was adjusted down after 3 consecutive increases, to nearly 21,000 VND/liter.