Based on the management of the Ministry of Industry and Trade - Ministry of Finance, businesses simultaneously adjusted gasoline prices from 3:00 p.m. today.

Compared to the previous adjustment period, today, the price of E5 gasoline was adjusted down by 110 VND/liter, the selling price is 19,730 VND/liter. The price of RON 95 gasoline decreased by 110 VND/liter, the selling price is 20,960 VND/liter.

Similarly, diesel price was adjusted down by 180 VND/liter, selling price down to 18,320 VND/liter.

The petroleum price stabilization fund of some key enterprises currently records a large positive level because in many recent management periods, the fund has not been used.

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Gasoline prices have been adjusted down. Photo: Minh Hien

According to the Ministry of Finance, the balance of the Petroleum Price Stabilization Fund as of the end of the second quarter was VND6,061 billion, down VND18 billion compared to the previous quarter and the fifth consecutive quarter of decline. Compared to the end of 2023, the fund balance decreased by nearly VND600 billion.

Regarding the Petroleum Price Stabilization Fund, the Ministry of Industry and Trade has just issued a document stating that since implementing the 7-day reduction in petroleum prices according to Decree No. 80/2023, domestic petroleum prices have been consistent with the developments in world petroleum prices.

In addition, the timely update of petroleum business costs has motivated businesses to create petroleum sources to fully supply the domestic market's needs.

The Ministry of Industry and Trade said that with the current implementation of the price adjustment cycle of 7 days/time, the price fluctuation between two basic adjustments is not large, and domestic gasoline prices have basically followed the world price movements.

Therefore, businesses have proactively calculated prices, planned to import goods according to the minimum total source allocation for 2024 of the Ministry of Industry and Trade, and registered plans for each quarter, and the basic supply of gasoline and oil is guaranteed.

The Ministry of Industry and Trade emphasized that the impact of adjusting gasoline prices on the socio-economic situation is not large, and there is almost no need to use the Petroleum Price Stabilization Fund to stabilize gasoline prices, contributing to the goal of controlling inflation and ensuring the harmony of interests between gasoline businesses and users.

Gasoline prices have increased sharply, RON 95 has jumped to over 21,000 VND/liter. Gasoline prices in today's adjustment period (October 10) have increased sharply. RON 95 gasoline prices have increased to over 21,000 VND/liter.