Gasoline price close to 20,500 VND per liter

Gasoline and oil prices (except mazut) have decreased by 60-110 VND per liter and kg from 3:00 p.m. today.

After the adjustment by the Ministry of Industry and Trade - Ministry of Finance, the price of RON 95-III gasoline (the popular type on the market) decreased by 80 VND, down to 20,520 VND per liter. E5 RON 92 is at 19,340 VND per liter, down 110 VND.

Meanwhile, oil products (except fuel oil) also decreased by 60-70 VND. Compared to 7 days ago, diesel oil decreased by 70 VND, down to 18,500 VND. Kerosene decreased by 60 VND, while fuel oil increased by 10 VND per kg.

Gasoline and oil prices change as follows:

Item	New price	Change
RON 95-III gasoline	20,520	- 80
E5 RON 92 gasoline	19,340	- 110
Diesel	18,500	- 70
Kerosene	18,920	- 60
Fuel oil	16,010	+ 10

Unit: VND/liter or kg, depending on the type

Since the beginning of the year, gasoline prices have increased 22 times and decreased 24 times. Oil prices have increased 20 times and decreased 26 times. The Joint Ministry has not yet allocated or established a Petroleum Price Stabilization Fund, similar to previous management periods. By the end of the second quarter, this fund had more than 6,000 billion VND, a decrease of about 600 billion compared to the end of 2023, according to the Ministry of Finance .

Recently, the Ministry of Finance proposed to continue to reduce environmental protection tax on gasoline by half, jet fuel by 70% and kerosene by 40% until the end of next year. According to the Vietnam Chamber of Commerce and Industry (VCCI), extending this policy until 2025 is necessary and urgent. This will help control inflation, stabilize the macro- economy , and support business recovery and development.

The operator said fuel prices fluctuated last week due to China's economic stimulus plan not meeting investors' expectations, and the ongoing conflict in the Middle East and between Russia and Ukraine. These factors caused gasoline prices to increase or decrease depending on the product. On average, finished gasoline decreased by 0.6-0.9% over the past 7 days, while oil decreased by 0.5%. Accordingly, each barrel of RON 95 gasoline fell to 83.6 USD, diesel to 88.2 USD, and fuel oil to 450 USD per ton.

Source