Gasoline price increased by 516 VND/liter from 3:00 p.m. this afternoon

The Ministry of Finance and the Ministry of Industry and Trade have just adjusted the retail prices of gasoline and oil. After making provisions and not using the Petroleum Price Stabilization Fund, the selling prices of popular gasoline and oil products on the market are as follows:

E5RON92 gasoline increased by 390 VND/liter, the selling price is not higher than 20,878 VND/liter; RON95 gasoline increased by 516 VND/liter, the selling price is not higher than 22,015 VND/liter.

Meanwhile, oil products were all adjusted down. Specifically, diesel 0.05S decreased by 11 VND/liter compared to the current retail price, not higher than 17,943 VND/liter; kerosene decreased by 198 VND/liter compared to the current retail price, not higher than 17,771 VND/liter; fuel oil 180CST 3.5S decreased by 275 VND/kg compared to the current retail price, not higher than 14,883 VND/kg.

Authorities said that the world oil market in this adjustment period (from May 22, 2023 to June 1, 2023) is affected by factors such as: OPEC+ production cuts; concerns about the US debt ceiling; stagnant industrial activities and higher interest rates increasing the risk of economic recession... These factors have caused oil prices to fluctuate.

The average price of finished petroleum products in the world between the price adjustment period on May 22, 2023 and the adjustment period on June 1, 2023 is: 87.438 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (up 2.292 USD/barrel, equivalent to an increase of 2.69% compared to the previous period); 92.433 USD/barrel of RON95 gasoline (up 2.800 USD/barrel, equivalent to an increase of 3.12% compared to the previous period); 87.903 USD/barrel of kerosene (down 1.285 USD/barrel, equivalent to a decrease of 1.44% compared to the previous period); 89.059 USD/barrel of diesel oil (down 0.126 USD/barrel, equivalent to a decrease of 0.14% compared to the previous period); 424,785 USD/ton of 180CST 3.5S fuel oil (down 10,792 USD/ton, equivalent to a decrease of 2.48% compared to the previous period).

Gasoline prices are adjusted (Photo: Moit.gov.vn).

In this operating period, the competent authority shall allocate the BOG Fund for E5RON92 gasoline at VND300/liter (same as the previous period), RON95 gasoline at VND300/liter (same as the previous period); diesel oil at VND300/liter (same as the previous period); kerosene at VND300/liter (same as the previous period); fuel oil at VND300/kg (same as the previous period). The BOG Fund shall not be allocated for all gasoline and oil products.

According to VTC

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