Diesel and kerosene prices rise, other commodities remain stable

A PVOil gas station. (Photo: Duc Duy/Vietnam+)

Diesel and kerosene prices both increased during today's operating period (September 11) while other commodities remained stable after the price stabilization fund (BOG) was established.

Accordingly, the price of E5 RON92 gasoline remains unchanged at VND23,471/liter; RON95-III gasoline is VND24,871/liter and fuel oil is VND17,704/kg. However, in this management period, diesel oil increased by VND410, to VND23,055/liter; kerosene increased by VND374, to VND23,188/liter.

Regarding the price stabilization fund, the joint ministries decided not to set up the fund for all petroleum products. On the contrary, the Petroleum Price Stabilization Fund will not be used for diesel and kerosene, but will only be used for gasoline and fuel oil.

According to a representative of the Ministry of Industry and Trade , the above-mentioned plan to manage gasoline prices aims to contribute to ensuring that domestic gasoline price fluctuations are basically consistent with world gasoline price fluctuations.

Along with that, the joint ministries continue to maintain the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuels according to the Government's policy, ensure the harmony of interests between market participants, support petroleum businesses to maintain and supply petroleum to the domestic market; minimize negative impacts on socio -economic development, production and business activities and people's lives.

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 3,156 billion VND.

Most recently (September 5), after setting aside the price stabilization fund, the price of E5 RON92 gasoline increased by VND132/liter; the price of RON95-III gasoline increased by VND270/liter. In addition, diesel increased by VND291/liter and kerosene increased by VND505/kg, but fuel oil decreased by VND277/kg.

According to Decree 95/ND-CP amending and supplementing a number of articles of Decree 83/2014 on gasoline and oil trading, effective from January 2, 2022, gasoline and oil prices are adjusted three times a month on the 1st, 11th and 21st of each month (ie every 10 days, instead of every 15 days).

If it falls on a day off or holiday, it will be postponed to the next working day after the day off; if it falls on the Lunar New Year holiday, it will be postponed to the next adjustment period./.

Duc Duy (Vietnam+)

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