Gasoline prices continue to fall sharply

According to the announcement of the Ministry of Industry and Trade - Ministry of Finance, from 3:00 p.m. today, the price of RON 95-III gasoline decreased by VND 920/liter, to VND 21,400/liter; E5 RON 92 decreased by VND 780/liter, to VND 20,510/liter.

Kerosene, diesel and fuel oil also decreased. Diesel 0.05S decreased by 711 VND/liter, selling price is 19,010 VND/liter; kerosene decreased by 958 VND/liter, selling price is 19,964 VND/liter; fuel oil 180CST 3.5S decreased by 549 VND/kg, selling price is 14,978 VND/kg.

In this management period, the joint ministries continue to not allocate to the Price Stabilization Fund and stop spending from this fund. This is the 7th management period that the authorities have not used the fund tool.

According to the Joint Ministry, the world oil market in this management period (from December 7, 2023 to December 13, 2023) is affected by factors such as: US oil inventories decrease, concerns about the security situation in the Middle East that could affect oil supply from this region, countries reaching a historic agreement to start reducing global fossil fuel consumption at the COP28 conference... The above factors have caused world oil prices in recent days to fluctuate up and down, but in general, they have decreased.

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