Gasoline prices fell for two consecutive sessions, oil prices increased

On the afternoon of July 24, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes in retail gasoline prices. The effective time is from 3:00 p.m. the same day.

The regulatory agency decided to reduce the price of E5 RON 92 gasoline by VND210/liter and RON 95 gasoline by VND220/liter. After adjustment, the retail price of E5 RON 92 gasoline is VND19,270/liter and RON 95 gasoline is VND19,700/liter.

Meanwhile, oil prices were adjusted up and down in opposite directions during this management period. Specifically, diesel increased by 330 VND/liter to 19,120 VND/liter, kerosene increased by 200 VND/liter to 18,620 VND/liter; fuel oil decreased by 100 VND/kg to 15,370 VND/kg. The management agency still maintained not to draw from or spend the price stabilization fund.

Thus, domestic gasoline prices have decreased for two consecutive sessions after only one increase. Currently, this fuel price is at a four-year low, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 16 times, decreased 15 times. Diesel has increased 16 times, decreased 14 times and remained unchanged once.

The fuel price stabilization fund of some key enterprises still recorded a large positive level because this fund has not been used in many recent management periods. The fund balance as of the end of the first quarter was more than 6,079 billion VND. Of which, the balance at the Vietnam National Petroleum Group ( Petrolimex ) accounted for half, at 3,082 billion VND.

Information from the Ministry of Industry and Trade said that this agency has basically completed the review, assessment and analysis of the implementation of Decision 53/2012 on the roadmap for applying the blending ratio of biofuels with traditional fuels.

The Department of Domestic Market Management and Development is assigned to ensure the supply of base gasoline as well as ethanol, coordinate with relevant units and associations to review and propose updates to technical regulations for gasoline and oil types.

In particular, manufacturing enterprises and business contacts must prepare facilities, equipment, and vehicles to be ready for production, mixing, transportation, and distribution of E10 bio-fuel nationwide, expected from January 1, 2026.

Vietnam National Petroleum Group (Petrolimex) and Vietnam Oil Corporation (PV Oil) - the two largest petroleum companies in the country, said they will pilot the sale of E10 gasoline from August 1.

Specifically, Petrolimex will pilot E10 gasoline sales at 36 gas stations in Ho Chi Minh City (before the merger) to evaluate the market and the possibility of practical implementation.

Similarly, PV Oil also piloted the sale of E10 RON95 bio-fuel at gas stations in Hanoi and Hai Phong. After the pilot phase, the company will continue to upgrade, convert and develop E10 gasoline sales points; ready to implement the roadmap for using E10 gasoline from January 1, 2026.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-giam-2-phien-lien-tiep-dau-tang-20250724142328024.htm