Gasoline prices skyrocketed by nearly 1,300 VND/liter

On the afternoon of October 10, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes to retail gasoline prices. The effective time will start from 3:00 p.m. the same day.

Accordingly, the regulatory agency decided to increase the price of E5 RON 92 gasoline by VND990 per liter and RON 95 gasoline by VND1,260 per liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is VND19,840 per liter and RON 95 gasoline is VND21,060 per liter.

Similarly, oil prices were also adjusted up in today's management period. Specifically, diesel prices increased by VND1,100/liter, to VND18,500/liter; kerosene prices increased by VND1,140/liter, to VND18,790/liter; and fuel oil increased by VND15,910/kg. In the management period, the joint ministries maintained that they would not draw from or spend from the Price Stabilization Fund.

Thus, domestic gasoline prices have increased after only one session of decrease, currently the price of this fuel is at its lowest level in more than 3 years, equivalent to the end of June 2021. Since the beginning of the year, gasoline prices have increased 20 times, decreased 21 times; diesel has increased 18 times and decreased 21 times.

The room for the petroleum price stabilization fund of some key enterprises is still positive because the fund has not been used in many recent management periods. The fund balance as of the end of the second quarter was VND6,061 billion, down VND18 billion compared to the previous quarter and the fifth consecutive quarter of decline. Compared to the end of 2023, the fund balance decreased by nearly VND600 billion.

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

Some key enterprises and petroleum distributors also recorded high balances in the Price Stabilization Fund such as Ho Chi Minh City Petroleum Company Limited (Saigon Petro) at 328 billion VND, Military Petroleum Corporation Limited Company (Mipec) at nearly 300 billion VND, Dong Thap Petroleum Trading Joint Stock Company at 460 billion VND, Thanh Le Import-Export Trading Corporation's Fund balance at more than 390 billion VND, Hoa Khanh General Trading and Service Company Limited at nearly 165 billion VND...

Source: https://dantri.com.vn/kinh-doanh/gia-xang-tang-vot-gan-1300-donglit-20241010115745150.htm