Business

Ministries slightly trim price of RON95 gasoline

SGGP
The ministries of Industry and Trade and Finance decided to lower the prices of some petrol products while keeping the prices of some other products unchanged on August 12.

Fuel prices are kept unchanged or slightly lowered in this adjustment. (Photo: SGGP)

Fuel prices are kept unchanged or slightly lowered in this adjustment. (Photo: SGGP)

Accordingly, the prices of E5 RON92 gasoline and mazut oil remained unchanged while the prices of RON95 gasoline, diesel oil, and kerosene slightly declined.

Specifically, E5 RON92 gasoline was sold at a maximum of VND14,409 per liter. The price of RON95-III dipped VND51 per liter to not higher than VND14,922 per liter. The price of diesel oil 0.05S was not higher than VND12,201 per liter. That of kerosene was not higher than VND10,207 per liter. That of mazut oil 3.5S was not higher than VND11.183 per kilogram.

The setting up level of the fuel price stabilization fund was at VND100 per liter for biofuel E5 RON92, VND200 per liter for RON95 gasoline, VND500 per liter for diesel oil, and VND300 per liter or kilogram for kerosene and mazut oil.

The ministries also allowed fuel traders to use the fuel price stabilization fund at VND932 per liter for E5 RON92 gasoline, VND479 per liter for RON95 gasoline, VND100 per liter for kerosene, VND300 per kilogram for mazut oil, and VND0 per liter for diesel oil.

According to the Ministry of Industry and Trade, as the Covid-19 pandemic has developed complicatedly in the country again, it will affect economic recovery and the demand for fuel and energy.

In recent adjustments, to support the recovering economy and limit the increase in gasoline prices, the ministries of Industry and Trade and Finance had spent a lot of money using the fuel price stabilization fund, from VND479 to VND900 per liter for gasoline products and VND100 VND per liter or kg for oil products.

In this adjustment, if fuel traders were not allowed to tap the fuel price stabilization fund, the prices of some types of gasoline would increase from VND200 to VND932 per liter or kg.

To keep the prices of gasoline stable or slightly decrease and support the production and business activities, as well as the consumption of people and enterprises in the context of a worsening Covid-19 pandemic domestically, the ministries of Industry and Trade and Finance decided to continue to spend the fuel price stabilization fund on gasoline, kerosene, and mazut oil to stabilize retail prices.

By Van Phuc – Translated by Thanh Nha

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