Gasoline prices rise again

From 3:00 p.m. today, January 11, gasoline prices will increase again according to the recent management decision of the Ministry of Industry and Trade.

Gasoline prices adjusted to increase again - Photo: Q.DINH

Accordingly, gasoline prices were adjusted from 3:00 p.m. today, January 11. E5RON92 gasoline is currently priced at VND21,006/liter, increasing to VND21,041/liter; RON95-III gasoline increased from VND21,916/liter to VND21,935/liter.

Diesel 0.05S is currently priced at VND19,368/liter, up VND339/liter to VND19,707/liter; kerosene is currently priced at VND19,957/liter to VND20,331/liter after an increase of VND374/liter; fuel oil 180CST 3.5S is currently priced at VND15,495/kg, up VND15,815/kg after an increase of VND320/kg.

In this adjustment, the management agency will make a provision for 180CST 3.5S fuel oil at VND300/kg (as in the previous period), and will not make a provision for gasoline, 0.05S diesel oil and kerosene. The price stabilization fund will not be used for all gasoline products.

According to the Ministry of Industry and Trade, the world oil market in this management period is affected by factors such as: US crude oil reserves decreased more than expected, concerns about supply shortage in Libya and ongoing tensions in the Middle East, developments in the Red Sea region... The above factors have caused world oil prices to fluctuate slightly in recent days.

The above factors have caused world oil prices to fluctuate slightly in recent days, with an increase of nearly 1% for gasoline and over 1-2% for oil.

The Ministry of Industry and Trade said that the above petrol price management plan aims to contribute to ensuring that domestic petrol price fluctuations are basically consistent with world petrol price fluctuations; continue to maintain the price difference between E5RON92 bio-fuel and RON95 mineral petrol at a reasonable level to encourage the use of bio-fuels according to the Government's policy.

This pricing scheme also ensures the harmony of interests among market participants, supports petroleum businesses to maintain and supply petroleum to the domestic market; and minimizes negative impacts on socio-economic development, production and business activities and people's lives.

Thus, after prices reversed and decreased in the first session of 2024, gasoline prices increased again in this second session.

According to TTO

Source