Gasoline and diesel prices have fallen for the second consecutive time.

Today's fuel prices, effective from 3 PM on October 24th, show a decrease of 38 VND per liter for E5 RON 92 gasoline and 68 VND per liter for RON 95 gasoline; diesel prices fluctuated.

The Ministry of Industry and Trade and the Ministry of Finance have just adjusted retail gasoline and diesel prices in today's adjustment period (October 24). The prices will be applied from 3 PM on October 24, 2024.

Quỹ bình ổn xăng dầu còn dư hơn 6.061 tỉ đồng

Today's fuel prices, effective from 3 PM on October 24th, show a decrease of 38 VND per liter for E5 RON 92 gasoline and 68 VND per liter for RON 95 gasoline; diesel prices fluctuated. (Photo: TTXVN)

Specifically, the price of E5 RON 92 gasoline decreased by 38 VND/liter, to 19,692 VND/liter; RON 95 gasoline decreased by 68 VND/liter, to 20,894 VND/liter.

Diesel fuel 0.05S decreased by 264 VND/liter, to 18,057 VND/liter; kerosene decreased by 57 VND/liter, to 18,570 VND/liter; mazut 180CST 3.5S increased by 139 VND/kg, to 16,229 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

According to the Ministry of Industry and Trade, the average price of refined petroleum products in the world between the price adjustment period of October 17, 2024 and the price adjustment period of October 24, 2024 was: 79.718 USD/barrel for RON92 gasoline used to blend E5RON92 gasoline (down 1.284 USD/barrel, equivalent to a 1.59% decrease); 85.946 USD/barrel for RON95 gasoline (down 1.504 USD/barrel, equivalent to a 1.72% decrease); 86.918 USD/barrel for kerosene (down 1.520 USD/barrel, equivalent to a 1.72% decrease); 85.934 USD/barrel for 0.05S diesel oil (down 2.706 USD/barrel, equivalent to a 3.05% decrease). 459,390 USD/ton for 180CST 3.5S fuel oil (down 1,222 USD/ton, equivalent to a 0.27% decrease).

World oil prices rose sharply across the board in the trading session on October 24th (Vietnam time). At 11:27 AM, WTI crude oil was at $71.69 per barrel, up $0.92 per barrel, or 1.30%. WTI crude oil closed the previous trading session at $70.77 per barrel and opened today's session at $71.01 per barrel.

Brent crude oil was trading at $75.83 per barrel, up $0.87 per barrel, or 1.16%. Brent crude closed the previous trading session at $76.96 per barrel and opened today's session at $75.23 per barrel.

Thus, world oil prices have been fluctuating sharply. In the first two trading sessions of the week, both WTI and Brent crude oil rose sharply. However, on October 23rd, oil prices reversed sharply downwards before rebounding in this morning's session (October 24th).

In the most recent price adjustment (October 17th), the prices of all types of gasoline and diesel were reduced by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by 110 VND/liter, to 19,730 VND/liter. The price of RON 95 gasoline was also reduced by 110 VND/liter, to 20,960 VND/liter.

Similarly, the price of diesel fuel was adjusted down by 180 VND/liter, to 18,320 VND/liter. The price of kerosene decreased by 170 VND/liter, to 18,620 VND/liter.

Currently, the fuel price stabilization fund of some key enterprises still has a large positive balance due to the fund not being used in many recent price adjustments. The fund balance at the end of the second quarter was VND 6,061 billion, a decrease of VND 18 billion compared to the previous quarter and the fifth consecutive quarter of decline. Compared to the end of 2023, this fund balance has decreased by nearly VND 600 billion.

Of that amount, the fund balance at Vietnam National Petroleum Group ( Petrolimex ) - the company holding half of the domestic retail gasoline market share - accounts for more than half, at nearly 3,079 billion VND.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-ngay-24102024-gia-xang-dau-cung-giam-lan-thu-hai-lien-tiep-354443.html