Gasoline prices continue to decrease, some types decrease by nearly 700 VND/liter

On the afternoon of May 8, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes in retail gasoline prices. The effective time is from 3:00 p.m. the same day.

The regulatory agency decided to reduce the price of E5 RON 92 gasoline by VND380/liter and RON 95 gasoline by VND410/liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is VND18,770/liter and RON 95 gasoline is VND19,170/liter.

Similarly, oil prices were also adjusted down during this period. Specifically, diesel oil decreased by 550 VND/liter to 16,800 VND/liter, kerosene decreased by 620 VND/liter to 16,940 VND/liter; fuel oil decreased by 660 VND/kg to 15,530 VND/kg. The Joint Ministry still maintains not to draw from or spend the price stabilization fund.

Thus, the domestic price of RON 95 gasoline has decreased for two consecutive sessions after only one increase. Currently, the price of this fuel is still at its lowest level in the past 4 years, equivalent to May 2021. Since the beginning of the year, RON 95 gasoline has increased 9 times, decreased 10 times. Diesel has increased 8 times, decreased 10 times and remained unchanged once.

The room for the petroleum price stabilization fund of some key enterprises still recorded a large positive level because this fund has not been used in many recent management periods. The fund balance as of the end of 2024 is more than 6,072 billion VND. Compared to the end of 2023, this fund balance decreased by nearly 600 billion VND.

Recently, the Department of Domestic Market Management and Development, Ministry of Industry and Trade, issued a document requesting key petroleum traders, petroleum distributors, and general agents to promote digitalization in petroleum business management, emphasizing that digitalization in the petroleum business sector must be completed before April 30.

Any trader or businessperson who fails to comply with regulations on electronic invoices, electronic invoices generated from cash registers for each sale and data connection with tax authorities, shall be considered ineligible to trade in petroleum and have their license revoked.

The Department of Domestic Market Management and Development also requires units to seriously implement reporting on the national petroleum business management and operation database system.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-dau-giam-tiep-co-loai-giam-gan-700-donglit-20250508095147449.htm