On the afternoon of May 22, the Ministry of Finance and the Ministry of Industry and Trade announced the selling prices of petroleum products, effective from 3:00 p.m. the same day. After two consecutive periods of deep price reductions, petroleum prices have recorded a slight increase again.
Gasoline prices increase again, gasoline exceeds 21,000 VND/liter
Gasoline prices increase again from 3pm this afternoon
According to the Ministry of Industry and Trade, the world oil market in this period (from May 11 to May 22) is affected by many factors such as: forecasts that global crude oil demand will continue to increase this year due to China's demand and the impact of OPEC+ production cuts; concerns about the US debt ceiling, stagnant industrial activities and higher interest rates increasing the risk of economic recession... These factors have caused oil prices to fluctuate, but in general, they are increasing.
Specifically, the average price of finished petroleum products in the world between the price adjustment period on May 11 and the adjustment period on May 22 was 85.146 USD/barrel of RON 92 gasoline used to blend E5RON92 gasoline, an increase of 2.130 USD/barrel, equivalent to an increase of 2.57% compared to the previous period.
The price of RON 95 gasoline is 89.633 USD/barrel, an increase of 2.267 USD/barrel, equivalent to an increase of 2.59% compared to the previous period. The price of kerosene is 89.187 USD/barrel, an increase of 0.649 USD/barrel, equivalent to an increase of 0.73% compared to the previous period.
Diesel oil price is 89.184 USD/barrel, up 1.920 USD/barrel, equivalent to an increase of 2.20% compared to the previous period. Fuel oil price is 435.577 USD/ton, up 12.971 USD/ton, equivalent to an increase of 3.07% compared to the previous period.
During this period, the Ministry of Industry and Trade - Ministry of Finance will set aside the Price Stabilization Fund for E5RON 92 gasoline at VND300/liter; RON 95 gasoline at VND300/liter; diesel at VND300/liter; kerosene at VND300/liter; fuel oil at VND300/kg and will not spend the fund for all gasoline and oil products.
Accordingly, the selling price of popular gasoline products on the market applied from 3:00 p.m. on the same day for E5RON 92 gasoline is no higher than VND20,488/liter (an increase of VND357/liter compared to the current retail price). The price of RON 95 gasoline is no higher than VND21,499/liter, an increase of VND499/liter compared to the current retail price.
Diesel price is not higher than 17,954 VND/liter, an increase of 301 VND/liter compared to the current retail price. Kerosene price is not higher than 17,969 VND/liter, a decrease of 3 VND/liter compared to the current retail price. Fuel oil price is not higher than 15,158 VND/kg, an increase of 296 VND/kg compared to the current retail price.
The Ministry of Industry and Trade requests that key petroleum traders and petroleum distributors adjust the new prices effective from 3:00 p.m. the same day; implement the method of setting up, spending, using and managing the Petroleum Price Stabilization Fund according to the guidance of the Ministry of Finance.
The Ministry of Industry and Trade will coordinate with relevant agencies to inspect and supervise the implementation of the responsibility of ensuring the supply of gasoline to the market by gasoline traders and will strictly handle violations.
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