Sharp decrease, RON95-III gasoline price down to nearly 19,000 VND per liter

A Petrolimex gas station in Hanoi. (Photo: Duc Duy/Vietnam+)

Prices of petroleum products have dropped sharply since 3 p.m. today (April 10) while the price stabilization fund remains unchanged, with no deductions.

According to the joint decision of the Ministry of Industry and Trade and the Ministry of Finance, the ceiling price of E5RON92 gasoline is 18,882 VND/liter, a decrease of 1,491 VND/liter compared to the current price; the new price of RON95-III gasoline is 19,207 VND/liter, a decrease of 1,712 VND/liter compared to the current price.

Also in this operating period, diesel oil decreased by 1,235 VND/liter, to 17,243 VND/liter; kerosene decreased by 1,322 VND/liter, the new price is 17,413 VND/liter and mazut oil decreased by 1,124 VND, to 15,902 VND/kg.

During this period, the joint ministries did not set aside or use the Price Stabilization Fund for petroleum products. As for the Vietnam National Petroleum Group (Petrolimex), as of the time before the price adjustment, the balance of the Price Stabilization Fund (BOG) at the enterprise was 3,082 billion VND, unchanged from the most recent announcement period.

This is the first reduction after gasoline prices have increased three times in a row. Most recently (April 3), E5 RON92 gasoline increased by VND341/liter; RON95-III gasoline increased by VND495/liter, diesel increased by VND261, kerosene increased by VND211/liter and fuel oil increased by VND124/kg.

According to Decree No. 80/2023/ND-CP amending and supplementing a number of articles of Decree No. 95/2021/ND-CP dated November 1, 2021 and Decree No. 83/2014/ND-CP dated September 3, 2014 of the Government on petroleum trading, the period of petroleum price management will be shortened from 10 days to 7 days, implemented every Thursday.

In case the price management period coincides with a holiday according to regulations, it will be implemented as follows: If Thursday coincides with the first day of the holiday, the petrol price management period will be implemented on the previous Wednesday. If Thursday coincides with the remaining holidays, the petrol price management period will be implemented on the first working day after the holiday.

Source: https://baobinhphuoc.com.vn/news/4/171383/quay-dau-giam-manh-gia-xang-ron95-iii-xuong-gan-nguong-19-000-dong-moi-lit