Gasoline prices have decreased for two consecutive sessions, with some types down to 19,340 VND/liter.

(Dan Tri) - The price of E5 RON 92 gasoline decreased by 110 VND/liter and RON 95 gasoline decreased by 80 VND/liter. Since the beginning of the year, this product has been adjusted up 21 times and down 25 times.

On the afternoon of November 21, 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 110 VND/liter and RON 95 gasoline by 80 VND/liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is 19,340 VND/liter and RON 95 gasoline is 20,520 VND/liter.

Similarly, oil prices were also adjusted down in today's management period. Specifically, diesel oil decreased by 70 VND/liter to 18,500 VND/liter; kerosene decreased by 60 VND/liter to 18,920 VND/liter. Meanwhile, fuel oil increased by 10 VND/kg to 16,010 VND/kg. In this management period, the joint ministries still maintained no deductions or disbursements from the price stabilization fund.

Thus, domestic gasoline prices have decreased for two consecutive sessions after only one increase. Currently, this fuel price is still at its lowest level in more than 3 years, equivalent to May 2021. Since the beginning of the year, gasoline has increased 21 times and decreased 25 times. Diesel has increased 20 times and decreased 25 times.

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 the second quarter was VND 6,061 billion, down VND 18 billion compared to the previous quarter and the fifth consecutive quarter of decrease. Compared to the end of 2023, this fund balance decreased by nearly VND 600 billion.

Of which, the fund balance at Vietnam National Petroleum Group ( Petrolimex ) - the enterprise holding half of the retail market share of petroleum - accounts for more than half, at nearly VND3,079 billion.

Regarding the decree on petroleum business management, the draft decree amends the regulation that traders are not allowed to buy and sell with each other to ensure effective management and cut down on intermediaries and reduce costs.

The management agency said this regulation was issued after inspections, checks and investigations by competent authorities and recommendations to the Ministry of Industry and Trade and the Government.

The Ministry of Industry and Trade affirmed that these regulations were carefully considered to promote competition and ensure the interests of businesses. Businesses are allowed to do anything that is not prohibited by law. However, for conditional business lines such as petroleum, businesses must fully comply with the conditions.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-giam-2-phien-lien-tiep-co-loai-con-19340-donglit-20241121142434271.htm