Gasoline price today, May 11, dropped to below 22,000 VND per liter

Each liter of gasoline decreased by 1,300-1,320 VND to 21,000 VND; oil products also decreased by 550-600 VND, from 3:00 p.m. today.

According to the joint adjustment of the Ministry, the prices of gasoline and oil products have decreased simultaneously, from 3:00 p.m. This is the third consecutive price reduction since the end of April, bringing gasoline prices to the same level as in early October 2022.

In today's session, the operator continues not to use the Price Stabilization Fund for gasoline and oil. Instead, the allocation to the Price Stabilization Fund for gasoline products is reduced from VND500 to VND300 per liter. The fund's expenditure for other products remains the same as the session on May 4.

Gasoline prices change specifically as follows:

Item	New price	Change
Gasoline RON 95-III	21,000	- 1,320
E5 RON 92 gasoline	20,130	- 1,300
Diesel	17,650	- 600
Kerosene	17,970	- 550
Fuel oil	14,860	- 640

Unit: VND/liter or kg (depending on type)

According to the Ministry of Industry and Trade - Ministry of Finance, the world oil market has decreased by 4-7% in the past 10 days due to OPEC+ voluntarily reducing production by over 1.1 million barrels per day; the USD price increased after the US Federal Reserve (Fed) raised interest rates for the 10th time, by 0.25 percentage points.

The average price of finished RON 92 gasoline (used to blend E5 RON 92) decreased by more than 7%, to 83 USD per barrel.

RON 95 gasoline is 87.37 USD per barrel, down 6.4%; diesel also lost 4%, to 87.26 USD per barrel; fuel oil is 422.6 USD per ton, equivalent to a 5.5% decrease compared to May 4.

Thus, after 3 consecutive price reductions, each liter of RON 95-III gasoline (the popular type on the market) is 3,240 VND lower; E5 RON 92 is 3,040 VND, and diesel is nearly 2,500 VND lower than in mid-April.

Mr. Minh

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