Gasoline prices have dropped, with RON 95 now just over 19,000 VND per liter

Starting from 3 PM yesterday (September 12), domestic fuel prices dropped simultaneously by 688 to 1,192 VND per liter, bringing the price of RON 95 gasoline down to over 19,630 VND per liter. 

The Ministry of Industry and Trade and the Ministry of Finance have just announced a decision to reduce the retail price of RON 95-III gasoline by 1,190 VND per liter, lowering the price to 19,630 VND per liter. E5 RON 92 gasoline also saw a reduction of 1,080 VND per liter, now priced at 18,890 VND per liter.

Similarly, diesel prices were adjusted down by 930 VND per liter, now at 17,160 VND per liter. The price of kerosene decreased by 934 VND per liter, reaching 17,790 VND per liter, and mazut oil dropped by 688 VND per kilogram, now at 14,467 VND per kilogram.

In this fuel price adjustment period, the Ministry of Finance and the Ministry of Industry and Trade did not make any withdrawals from or contributions to the Fuel Price Stabilization Fund.

Currently, the Fuel Price Stabilization Fund of several key enterprises is recording a significant positive balance due to recent periods where it was not utilized. As of September 11, Petrolimex had a positive fund balance of 3.079 trillion VND; PV Oil had a negative balance of over 138 billion VND; Saigon Petro had a positive balance of 328 billion VND; Petimex had a positive balance of 460 billion VND, and so on.

On the international market, global oil prices have fallen to their lowest levels since December 2021 after the Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for oil demand in the near future.

Original article and picture by AutoPro