RON 95 gasoline price exceeds 20,000 VND per liter

Gasoline and oil prices (except fuel oil and diesel) increased by 20-440 VND per liter from 3:00 p.m. today, after adjustments by the Ministry of Industry and Trade and the Ministry of Finance.

The price of RON 95-III gasoline (the popular type on the market) increased by VND440, to VND20,080 per liter. E5 RON 92 increased by VND410, to VND19,690.

Oil prices increased and decreased in mixed directions. Compared to 7 days ago, diesel remained unchanged at 17,890 VND per liter. Kerosene and fuel oil have new prices of 18,110 VND and 16,950 VND, respectively.

Gasoline and oil prices change as follows:

Item	New price	Change
Gasoline RON 95-III	20,080	+ 440
E5 RON 92 gasoline	19,690	+ 410
Diesel	17,890	+ 0
Kerosene	18,110	+ 20
Fuel oil	16,950	- 40

Unit: VND/liter or kg, depending on type

The operator said fuel prices fluctuated last week due to a decrease in US petroleum product reserves, renewed tensions in the Middle East, and uncertainty in US tax policies on goods from other countries...

These factors cause gasoline prices to increase or decrease depending on the product. On average, over the past 7 days, finished gasoline increased by about 2.7-2.8%; oil (excluding diesel) decreased by 0.2-0.5%. Accordingly, each barrel of RON 95 gasoline increased to 80.8 USD and diesel to 84.1 USD, while fuel oil decreased to 462.6 USD per ton.

According to Circular 18, from May 2, the Ministry of Industry and Trade will announce the base price and selling price based on input data and written comments from the Ministry of Finance. Fuel products will have their prices announced by the Ministry of Industry and Trade, including bio-fuel, RON 95-III mineral gasoline and oil products (diesel, kerosene, fuel oil). Thus, the mechanism for regulating gasoline prices will change, and there will no longer be an interdisciplinary Finance - Industry and Trade group as at present.

Along with that, the management agency added regulations on reporting on the use of petroleum warehouses applicable to key traders and distributors with warehouses for rent and lease. These traders must submit quarterly reports on the total warehouse capacity, the tenant, the leased capacity, and the output of petroleum through the warehouse during the period.

Source