Gasoline prices drop in first adjustment to new schedule

From 3:00 p.m. today, the price of RON92 E5 RON92 gasoline decreased by 584 VND/liter, the retail price is 21,690 VND/liter; the price of RON 95 gasoline decreased by 510 VND/liter, the retail price is more than 23,020 VND/liter.

Along with that, oil prices were also adjusted down from 3pm today. Specifically, diesel prices decreased by 600 VND/liter, selling price is 20,280 VND/liter, kerosene decreased by 570 VND, retail price is only 20,940 VND/liter. Fuel oil alone increased by 15 VND, with the new selling price not higher than 15,638 VND/kg.

The Joint Ministry continues not to allocate to the Price Stabilization Fund and stops spending from this fund for all petroleum products.

This is the first operating period implemented according to Decree 80/2023 on petroleum business that the Government has just issued, effective from November 17.

According to Decree 80, the time for managing gasoline prices is carried out every Thursday. In case the price management time coincides with the Lunar New Year, it is carried out as follows: If Thursday falls on the last day of the lunar year (29th or 30th of Lunar New Year), the gasoline price management is carried out on the preceding Wednesday. If Thursday falls on the 1st, 2nd or 3rd day of Lunar New Year, the time for managing gasoline prices is carried out on the 4th day of Lunar New Year.

In case the operating time coincides with a holiday according to regulations, it will be implemented as follows: If Thursday coincides with the first day of the holiday, the time for operating gasoline prices will be implemented on the preceding Wednesday.

If Thursday falls on any of the remaining holidays, the petrol price adjustment will be made on the first working day after the holiday.

In case the price of petroleum products fluctuates abnormally, affecting socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on the appropriate time to manage petroleum prices.

Source: https://dttg.baotainguyenmoitruong.vn/gia-xang-giam-trong-lan-dau-dieu-chinh-theo-lich-moi-366167.html