Gasoline prices drop after holidays

RON 95 gasoline is sold at 19,580 VND/liter. Photo: Pham Ngon.

According to plan, the Ministry of Industry and Trade - Ministry of Finance adjusted retail gasoline prices this afternoon (May 5) because Thursday (May 1) is International Labor Day.

In particular, the regulatory agency decided to reduce the retail price of E5 RON 92 gasoline by 80 VND/liter and RON 95 gasoline by 50 VND/liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is 19,150 VND/liter and RON 95 gasoline is 19,580 VND/liter.

Thus, the price of RON 95 gasoline has decreased again after only one period of strong upward adjustment. Since the beginning of the year, this fuel has increased 9 times and decreased 9 times.

Similarly, diesel prices were also reduced by VND170/liter to VND17,350/liter. So far, oil prices have increased 8 times and decreased 9 times.

Previously, leaders of some petroleum companies predicted that gasoline prices could decrease again in today's operating period. Currently, gasoline discounts at many warehouses are fluctuating around 1,200-1,600 VND/liter.

In this management period, the joint ministries still maintain no deductions or expenditures from the Petroleum Price Stabilization Fund.

Data from the Ministry of Finance shows that the balance of the Petroleum Price Stabilization Fund as of the end of the second quarter of 2024 was VND6,061 billion, down only VND18 billion compared to the previous quarter. However, compared to the end of 2023, the fund's size has decreased by nearly VND600 billion.

Of which, the balance at Vietnam National Petroleum Group ( Petrolimex ) accounts for more than half, at nearly 3,079 billion VND.

Some key enterprises and petroleum distributors also recorded large positive balances in the Price Stabilization Fund, such as Ho Chi Minh City Petroleum Company Limited (Saigon Petro) with 328 billion VND; Military Petroleum Corporation Limited Company (Mipec) with nearly 300 billion VND; Dong Thap Petroleum Trading Joint Stock Company with a positive balance of 460 billion VND.

Source: https://baohatinh.vn/gia-xang-giam-sau-nghi-le-post287215.html