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, the price of E5 gasoline was adjusted up by 680 VND/liter, the selling price was 19,620 VND/liter. The price of RON 95 gasoline increased by 750 VND/liter, the selling price was 20,510 VND/liter.

Similarly, diesel price increased by 460 VND/liter, selling price up to 17,500 VND/liter.

gasoline 1.jpg
Gasoline prices increase sharply. Photo: Hoang Ha

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.

As of September 25, Petrolimex recorded a positive fund of VND 3,079 billion; Saigon Petro had a positive fund of VND 328 billion; Petimex had a positive fund of VND 460 billion; PV Oil had a negative fund of more than VND 138 billion...

Regarding the petroleum market, on September 23, Prime Minister Pham Minh Chinh signed an official dispatch on continuing to implement solutions to ensure petroleum supply for production, business and consumption of people and businesses.

Accordingly, the Prime Minister requested the Minister of Industry and Trade to direct key petroleum traders to proactively source goods, provide enough petroleum for the system, absolutely not to interrupt the supply of petroleum in their petroleum distribution system; strictly implement the total minimum petroleum source in 2024 allocated and reserve petroleum according to regulations.

The Minister of Industry and Trade needs to closely monitor the implementation of the total minimum source of key traders; proactively develop a petroleum plan for 2025 and the following years; and resolutely not let there be a shortage or disruption of supply like in 2022.

In addition, the Prime Minister noted that the Minister of Industry and Trade is responsible to the Government, the Prime Minister, and the people if there is a shortage or disruption in the supply of gasoline and oil to the domestic market.

The Minister of Industry and Trade needs to strengthen inspection, examination and supervision of petroleum business activities, promptly detect and strictly handle violations according to regulations.

In addition, the Ministry of Industry and Trade continues to preside over and coordinate with relevant ministries and agencies to thoroughly review and promptly complete the draft decree replacing the decrees on petroleum trading to ensure scientific, feasible, effective, meeting the requirements of practice and state management of petroleum products, harmonizing the interests of the State, people and businesses. This content must be reported to the Government this September.

Gasoline prices increase again, RON 95 up to over 19,700 VND/liter. Gasoline prices in today's management period (September 19) have mixed developments. Gasoline prices increased after plunging in the previous period while oil prices continued to decrease.