From 3:00 p.m. on February 29, the price of E5 RON92 gasoline increased by VND277/liter; RON95-III gasoline increased by VND330/liter; and fuel oil increased by VND30/kg. In contrast, diesel oil decreased by VND137/liter and kerosene decreased by VND136/liter.
A Petrolimex gas station in Hanoi.
While the prices of gasoline and fuel oil increased, the prices of diesel and kerosene decreased from 3:00 p.m. today (February 29) after the price stabilization fund (BOG) was set aside.
According to the decision of the Ministry of Finance - Ministry of Industry and Trade, E5 RON92 gasoline increased by 277 VND/liter, the new price is 22,752 VND/liter; RON95-III gasoline increased by 330 VND/liter, to 23,929 VND/liter and mazut oil increased by 30 VND/kg, the new price is 15,959 VND/kg.
However, in this adjustment period, diesel oil decreased by 137 VND/liter, the new price is 20,773 VND/liter and kerosene decreased by 136 VND/liter, down to 20,785 VND/liter.
Regarding the Price Stabilization Fund (BOG), the joint ministries decided to set aside 300 VND/kg for fuel oil, not to set aside the BOG Fund for E5RON92 gasoline, RON95 gasoline, diesel oil and kerosene; not to use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene and fuel oil.
A representative of the Vietnam National Petroleum Group (Petrolimex) said that as of the time before the price adjustment, the balance of the price stabilization fund (BOG) at the enterprise was 3,065 billion VND.
The most recent adjustment, on February 22, after setting aside the price stabilization fund, the price of E5 RON92 gasoline decreased by VND356/liter; RON95-III gasoline decreased by VND320/liter; diesel decreased by VND451/liter; kerosene decreased by VND300, but fuel oil increased by VND23/kg.
According to Decree No. 80/2023/ND-CP amending and supplementing a number of articles of Decree No. 95/2021/ND-CP dated November 1, 2021 and Decree No. 83/2014/ND-CP dated September 3, 2014 of the Government on petroleum trading, which was recently issued by the Government on November 17, the period for managing petroleum prices will be shortened from 10 days to 7 days, implemented every Thursday.
In case the price management period coincides with a holiday according to regulations, it will be implemented as follows: If Thursday coincides with the first day of the holiday, the petrol price management period will be implemented on the previous Wednesday. If Thursday coincides with the remaining holidays, the petrol price management period will be implemented on the first working day after the holiday.
According to VNA
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