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.

Accordingly, the price of E5 gasoline decreased by 790 VND/liter, the selling price is 22,120 VND/liter. The price of RON 95 gasoline decreased by 900 VND/liter, the selling price is 23,260 VND/liter.

Diesel price decreased by 290 VND/liter, selling price is 20,700 VND/liter.

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Domestic gasoline prices drop sharply (Photo: Tuan Anh)

In this management period, the Ministry of Finance - Ministry of Industry and Trade only allocated 300 VND/kg for fuel oil to the Petroleum Price Stabilization Fund. The management agency did not allocate nor spend the Petroleum Price Stabilization Fund for all other types of petroleum.

Previously, on February 6, Minister of Industry and Trade Nguyen Hong Dien led a working delegation to inspect the situation of ensuring the supply of gasoline, oil, and electricity for the 2024 Lunar New Year as well as the implementation of the 2024 production and business plan at Vietnam Electricity Group (EVN), Vietnam National Petroleum Group (Petrolimex), Military Petroleum Corporation (Mipecorp) and a number of affiliated units.

The Minister emphasized that gasoline and electricity are strategic commodities that not only have economic significance but also have significance for national defense and social security.

Therefore, the most important goal is to not interrupt the supply, not to have a shortage of electricity or gasoline in any situation, first of all during the Lunar New Year 2024.

The head of the Ministry of Industry and Trade suggested that Petrolimex and Mipecorp need to closely follow market developments, promote the role of state-owned enterprises, further develop the retail distribution network; proactively build contingency plans to ensure sufficient gasoline and oil in all situations, especially in the context that 2024 is forecast to be a year of continued difficulties in ensuring domestic gasoline and oil supply.

In addition, relevant corporations and groups need to direct their affiliated units to have specific plans to implement scenarios and plans for supplying and trading gasoline and oil, providing sufficient sources of goods; arranging enough human resources, organizing on-call duty or overtime to maintain regular and continuous sales activities for the market during and after Tet.

The Ministry of Industry and Trade is urgently developing a new decree on petroleum trading in a direction that is more market-oriented, aiming to both facilitate petroleum trading enterprises to operate effectively and ensure State management.

Gasoline prices today, February 8, 2024: World increases, domestic prices are expected to decrease sharply . Gasoline prices today, February 8, 2024, on the world market continue to increase since the beginning of the week. Meanwhile, domestic gasoline prices in the management session this afternoon are expected to decrease sharply.