This afternoon, February 15, the Ministry of Industry and Trade - Ministry of Finance announced information on the gasoline price adjustment session effective from 3:00 p.m.
Gasoline prices rise sharply again after Lunar New Year holiday
Accordingly, the market price of gasoline applied from 3 p.m. for E5RON 92 gasoline is no higher than VND22,831/liter, an increase of VND711/liter compared to the current base price; lower than RON 95 gasoline by VND1,088/liter. The price of RON 95 gasoline is no higher than VND23,919/liter, an increase of VND657/liter compared to the current base price.
Diesel price is not higher than VND21,361/liter, an increase of VND654/liter compared to the current base price. Kerosene price is not higher than VND21,221/liter, an increase of VND633/liter compared to the current base price. Fuel oil price is not higher than VND15,906/kg, an increase of VND308/kg compared to the current base price.
According to the Ministry of Industry and Trade - Ministry of Finance, the plan to manage gasoline prices this period aims to ensure that domestic gasoline price fluctuations are basically consistent with world gasoline price fluctuations; continue to maintain the price difference between E5RON 92 biofuel and RON 95 gasoline at a reasonable level to encourage the use of biofuels.
In addition, this plan to adjust gasoline prices also ensures the harmony of interests among market participants, supports gasoline businesses to maintain and supply gasoline to the domestic market; minimizes negative impacts on socio-economic development, production and business activities and people's lives.
Previously, in the operating period on February 8 (ie the 29th day of the Lunar New Year of Giap Thin), gasoline prices decreased sharply. Specifically, gasoline prices decreased from 793 - 898 VND/liter, oil prices decreased from 292 - 489 VND/liter/kg compared to the operating period on February 1.
The world oil market during the period from February 8 to February 14 was affected by factors such as concerns that tensions in the Middle East could disrupt oil supplies, and conflicts in the Red Sea region affecting transportation activities.
The Organization of the Petroleum Exporting Countries (OPEC) maintains its forecast of increased oil demand this year, a decline in the operating capacity of oil refineries in the US, etc. The above factors have caused world oil prices to fluctuate between increases and decreases in recent days, but the general trend is upward.
In this management period, 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, and not set aside the fund for E5RON 92 gasoline, RON 95 gasoline, diesel oil and kerosene.
In addition, the Ministry of Industry and Trade - Ministry of Finance decided not to use the Petroleum Price Stabilization Fund for petroleum products.
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