The decision clearly states that the actual selling price of gasoline in region 2 can be increased by no more than 2% compared to the announced operating price in region 1 at the same time.
Specifically, after the decision to adjust the retail price of gasoline on the afternoon of July 3 by the Ministry of Finance - Industry and Trade with the price: E5 RON92 gasoline decreased by 408 VND/liter compared to the current retail price, not higher than 20,470 VND/liter. RON95 gasoline price decreased by 587 VND/liter, not higher than 21,428 VND/liter.
Diesel price decreased by 5 VND/liter, down to 18,169 VND/liter. Kerosene price decreased by 30 VND/liter, not higher than 17,926 VND/liter and fuel oil price increased by 36 VND/kg, not higher than 14,623 VND/kg. Mr. Tran Ngoc Nam, Deputy General Director of Vietnam National Petroleum Group signed Decision 397 on promulgating gasoline and oil prices in region 2.
The regulation explains that the list of locations far from ports, warehouses, and petroleum production facilities has reasonable and valid actual costs (audited) that increase, leading to higher selling prices than the operating prices of area 1 (abbreviated as area 2).
Gasoline prices in Zone 2 will increase by no more than 2 times compared to Zone 1 (Photo: Cong Hieu).
“The actual selling price of gasoline in region 2 is increased by no more than 2% (two percent) compared to the announced operating price in region 1 at the same time,” the decision clearly states.
Decision 397 takes effect from 3:00 p.m. on July 3, 2023 and replaces Decision 263/PLX - QD-TGĐ dated May 4, 2022 of the Vietnam National Petroleum Group.
The Decision also clearly states that the Chairman and Director of the member petroleum companies of the Vietnam National Petroleum Group that conduct business in region 2 have the right to decide the actual selling price of each type of petroleum to ensure adequate compensation for reasonable, valid, market-appropriate costs and compliance with regulations.
According to Decision 386 dated July 28, 2020 of the Vietnam National Petroleum Group, the area of Region 2 includes 42 provinces: Ha Giang, Cao Bang, Bac Kan, Lang Son, Lao Cai, Yen Bai , Tuyen Quang, Dien Bien, Lai Chau, Son La, Hoa Binh, Gia Lai, Kon Tum, Dak Lak, Dak Nong, Lam Dong, Thai Nguyen, Bac Giang, Phu Tho, Vinh Phuc, Bac Ninh, Thai Binh, Nam Dinh, Ha Nam, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Quang Nam, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, An Giang, Bac Lieu, Ca Mau, Dong Thap, Hau Giang and all islands of Vietnam.
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