Gasoline prices continue to decrease across the board, RON 95 down to 20,520 VND/liter

The price of gasoline and oil in today's regulation (November 21) was adjusted down for the second consecutive time, except for fuel oil which increased slightly. Of which, the price of RON 95 gasoline decreased to 20,520 VND/liter.

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

Compared to the previous operating period, in today's operating period, the price of E5 gasoline was adjusted down by 110 VND/liter, selling price is 19,340 VND/liter. The price of RON 95 gasoline also decreased by 80 VND/liter, selling price is 20,520 VND/liter.

Similarly, diesel price was adjusted down by 70 VND/liter, selling price is 18,500 VND/liter.

Product	Price from November 21, 2024 (unit: VND/liter)	Compare with previous period
RON 95-III gasoline	20,520	-80
E5 RON 92 gasoline	19,340	- 110
Diesel	18,500	- 70

Gasoline price list on November 21, 2024

In today's operating session, the Ministry of Industry and Trade - Ministry of Finance continued not to draw or spend from the Price Stabilization Fund for petroleum products.

In the management session last week (November 14), the prices of all types of gasoline and oil were adjusted down by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by VND290/liter, selling price is VND19,450/liter. The price of RON 95 gasoline also decreased by VND250/liter, selling price is VND20,600/liter.

Diesel price was adjusted down by 340 VND/liter, selling price at 18,570 VND/liter. Kerosene price was reduced by 310 VND/liter, price is 18,980 VND/liter.

gas price 13762.jpg — Gasoline prices continue to fall. Photo: Luong Bang

Regarding the petroleum market, the Ministry of Industry and Trade is drafting a decree on petroleum trading, but there are still many proposals that have not received consensus.

Mr. Nguyen Tien Thoa - Chairman of the Vietnam Valuation Association said that he received many disagreements, even commenting that some important contents of the draft decree did not meet the requirements of production and business practices. Not only that, it also conflicted with the provisions of related laws.

For example, not allowing distributors (who have met the prescribed business conditions) to freely buy and sell each other's gasoline to supply the market. Or the need for transparent regulations on the business environment to ensure equal competition between distributors who are not part of the main trader's system and distributors established by the main trader.

At the regular press conference for the third quarter of the Ministry of Industry and Trade held on the afternoon of October 23, Mr. Phan Van Chinh, Director of the Domestic Market Department (Ministry of Industry and Trade) said that the draft Decree on petroleum trading stipulates that traders are not allowed to buy and sell with each other to ensure effective management and cut down on intermediaries and reduce costs.

The leader of the Domestic Market Department affirmed that these regulations were carefully considered to promote competition and ensure the interests of businesses. The Ministry of Industry and Trade does not prohibit petrol distributors from buying and selling from many sources, but businesses need to meet the conditions for petrol trading.

In addition, this decree also stipulates that the conditions for becoming a wholesale trader, a distributor and a retail enterprise are completely different. According to Mr. Chinh, in any segment, enterprises must meet the conditions of that segment, without discrimination.

Gasoline price forecast tomorrow will be below 20,000 VND/liter?

Domestic gasoline prices tomorrow (November 21) are forecast to decrease for the second consecutive time, with a decrease of 200-250 VND/liter; diesel prices may decrease more if there is no impact on the Petroleum Price Stabilization Fund.

Get rid of the mindset of 'if you can't manage it, then ban it' in the petroleum business

Get rid of the mindset of 'if you can't manage it, ban it' in the petroleum business

"The draft decree on petroleum business needs to be reviewed to implement the directive of General Secretary To Lam , which is to definitely abandon the mindset of banning if it cannot be managed."