From 3 PM today, January 11th, gasoline and diesel prices will increase again according to the recent price adjustment decision of the Ministry of Industry and Trade .
Gasoline prices have been adjusted upwards again - Photo: Q. DINH
Accordingly, fuel prices will be adjusted from 3 PM today, January 11th. E5RON92 gasoline, currently priced at 21,006 VND/liter, will increase to 21,041 VND/liter; RON95-III gasoline will increase from 21,916 VND/liter to 21,935 VND/liter.
Diesel fuel 0.05S is currently priced at 19,368 VND/liter, an increase of 339 VND/liter to 19,707 VND/liter; kerosene is currently priced at 19,957 VND/liter, an increase of 374 VND/liter to 20,331 VND/liter; and mazut 180CST 3.5S is currently priced at 15,495 VND/kg, an increase of 320 VND/kg to 15,815 VND/kg.
In this adjustment, the regulatory agency set the price stabilization fund contribution for 180CST 3.5S fuel oil at 300 VND/kg (the same as the previous period), but did not contribute to the fund for gasoline, 0.05S diesel, and kerosene. No funds from the price stabilization fund were used for any petroleum products.
According to the Ministry of Industry and Trade, the global oil market during this price adjustment period was influenced by factors such as: US crude oil reserves decreased more than expected, concerns about supply shortages in Libya, and ongoing tensions in the Middle East, developments in the Red Sea region... These factors have caused global oil prices to fluctuate slightly, with slight increases and decreases, in recent days.
The factors mentioned above have caused world oil prices to fluctuate slightly up and down in recent days, with increases of nearly 1% for gasoline and over 1-2% for diesel.
The Ministry of Industry and Trade stated that the aforementioned fuel price management plan aims to contribute to ensuring that domestic fuel price fluctuations are basically consistent with world fuel price fluctuations; and to continue maintaining a reasonable price difference between E5RON92 bio-gasoline and RON95 mineral gasoline to encourage the use of biofuels in accordance with the Government 's policy.
This pricing scheme also ensures a balance of interests among market participants, supports petroleum businesses in maintaining and supplying petroleum to the domestic market, and minimizes negative impacts on socio-economic development, production and business activities, and people's lives.
Thus, after prices reversed and fell in the first trading session of 2024, gasoline and diesel prices simultaneously increased again in this second session.
According to TTO
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