A PVOil gas station in Can Tho province. (Photo: Duc Duy/Vietnam+)
Except for fuel oil, gasoline prices and other oil products increased in today's operating period (September 5) after setting aside the price stabilization fund (BOG).
Accordingly, the price of E5 RON92 gasoline increased by 132 VND/liter, the new price is 23,471 VND/liter; RON95-III gasoline is 24,871 VND/liter, an increase of 270 VND/liter. At the same time, diesel increased by 291 VND, to 22,645 VND/liter; kerosene increased by 505 VND to 22,814 VND/liter and mazut decreased by 277 VND/kg, the new price is 17,704 VND.
Regarding the stabilization fund, the joint ministries decided not to set aside funds for all petroleum products. On the contrary, the fund will not be spent on petroleum products.
According to a representative of the Ministry of Industry and Trade, the above-mentioned plan to manage gasoline prices aims to contribute to ensuring that domestic gasoline price fluctuations are basically consistent with world gasoline price fluctuations.
Along with that, the joint ministries continue to maintain the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuels according to the Government's policy, ensure the harmony of interests between market participants, support petroleum businesses to maintain and supply petroleum to the domestic market; minimize negative impacts on socio-economic development, production and business activities and people's lives.
A representative of the Vietnam National Petroleum Group (Petrolimex) said that as of the time before the price adjustment, the balance of the price stabilization fund (BOG) at the enterprise was 3,156 billion VND.
Most recently (August 21), after setting aside the price stabilization fund, the price of E5 RON92 gasoline increased by VND517/liter; the price of RON95-III gasoline increased by VND608/liter. In addition, kerosene increased by VND420/liter and fuel oil increased by VND313/kg, but diesel oil decreased by VND71/liter.
According to Decree 95/ND-CP amending and supplementing a number of articles of Decree 83/2014 on gasoline and oil trading, effective from January 2, 2022, gasoline and oil prices are adjusted three times a month on the 1st, 11th and 21st of each month (ie every 10 days, instead of every 15 days).
If it falls on a day off or holiday, it will be postponed to the next working day after the day off; if it falls on the Lunar New Year holiday, it will be postponed to the next adjustment period.
Therefore, due to coinciding with the September 2nd holiday, this gasoline price adjustment period was postponed to September 5./.
Duc Duy (Vietnam+)
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