Gasoline prices increased sharply, RON 95 jumped to more than 21,000 VND/liter

Gasoline prices in today's adjustment period (October 10) increased sharply. RON 95 gasoline price reached over 21,000 VND/liter.

Based on the direction of the Ministry of Industry and Trade - Ministry of Finance, businesses simultaneously adjusted gasoline prices from 3:00 p.m. today.

Compared with the previous operating period, gasoline prices E5 price was adjusted up by 990 VND/liter, selling price is 19,840 VND/liter. RON 95 gasoline price increased by 1,260 VND/liter, selling price is 21,060 VND/liter.

Similarly, diesel price was adjusted up by VND1,100/liter, selling price at VND18,930/liter.

The fuel price stabilization fund of some key enterprises is currently recording a large positive level because the fund has not been used in many recent management periods. In today's management period, the joint ministries continue not to spend the stabilization fund.

Gasoline prices increase sharply. Photo: Tuan Anh

According to the Ministry of Finance , the balance of the Petroleum Price Stabilization Fund as of the end of the second quarter was VND6,061 billion, down VND18 billion compared to the previous quarter and the fifth consecutive quarter of decline. Compared to the end of 2023, the fund balance decreased by nearly VND600 billion.

Of which, the fund balance at the Vietnam National Petroleum Group ( Petrolimex ) accounts for more than half, at nearly VND3,079 billion. This is the leading enterprise holding nearly 50% of the domestic petroleum retail market share.

In addition, the fund balance at Thien Minh Duc is 467 billion VND, Dong Thap Petroleum is 460 billion VND, Saigon Petro is 328 billion VND, Military Petroleum is nearly 300 billion VND...

On the contrary, some enterprises still recorded negative funds such as PVOil, Binh Minh Petro, Truong An, Tan Nhat Minh... In which, the enterprise with the largest negative fund is PVOil, more than 138 billion VND.

The petroleum price stabilization fund is established according to Decree 84/2009 of the Government on petroleum trading and later amended decrees (Decree No. 83/2014/ND-CP and Decree 95/2021/ND-CP).

The Ministry of Finance's disclosure of the situation of provision, use and interest arising on the balance of the Petroleum Stabilization Fund aims to continue implementing the principle of transparency in managing petroleum prices according to regulations.

Source