Some information about gasoline price management on January 2, 2025

The average price of finished petroleum products in the world between the price adjustment period on December 26, 2024 and the adjustment period on January 2, 2025 is: 81.305 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (up 0.982 USD/barrel, equivalent to an increase of 1.22%); 84.605 USD/barrel of RON95 gasoline (up 0.932 USD/barrel, equivalent to an increase of 1.11%); 87.998 USD/barrel of kerosene (up 0.688 USD/barrel, equivalent to an increase of 0.79%); 89.478 USD/barrel of 0.05S diesel oil (up 0.665 USD/barrel, equivalent to an increase of 0.75%); 452,470 USD/ton of 180CST 3.5S fuel oil (up 4,402 USD/ton, equivalent to an increase of 0.98%).

In this operating period, given the above-mentioned developments in world oil prices; fluctuations in: VND/USD exchange rate, weighted average import tax rate applied in the formula for calculating the base price of oil, average E100 price and current regulations, the Ministry of Industry and Trade - Ministry of Finance jointly decided on a plan to manage oil prices to ensure that domestic oil price fluctuations are consistent with world oil price fluctuations; continue to maintain the price difference between E5RON92 bio-fuel and RON95 mineral gasoline at a reasonable level to encourage the use of bio-fuels according to the Government's policy; ensure the harmony of interests among market participants.

1. Petroleum Price Stabilization Fund

Do not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

2. Gasoline price

After making provisions and spending the Petroleum Price Stabilization Fund for petroleum products as stated in Section 1 above, the selling prices of popular petroleum products on the market are as follows:

- E5RON92 gasoline: no higher than VND 20,057/liter (increase of VND 240/liter compared to current base price), VND 689/liter lower than RON95-III gasoline;

- RON95-III gasoline: no higher than VND 20,746/liter (an increase of VND 199/liter compared to the current base price);

- Diesel oil 0.05S: not higher than 18,755 VND/liter (increase 125 VND/liter compared to current base price);

- Kerosene: not higher than VND 18,834/liter (an increase of VND 126/liter compared to the current base price);

- 180CST 3.5S mazut oil: not higher than 16,099 VND/kg (increase 129 VND/kg compared to current base price).

- Provision and use of the Petroleum Price Stabilization Fund for petroleum products in Section 1 above: Applicable from 15:00 on January 2, 2025.

- Adjusting the selling price of petroleum products: To be determined by the petroleum wholesaler and petroleum distributor, but no earlier than 3:00 p.m. on January 2, 2025.

- From 15:00 on January 2, 2025, the time when the Ministry of Industry and Trade announces the base price of the period announced in this Official Dispatch until before the date the Ministry of Industry and Trade announces the base price of the next period, the adjustment of the selling price of petroleum products shall be decided by the main petroleum traders and petroleum distributors in accordance with the provisions of Decree No. 80/2023/ND-CP dated November 17, 2023, Decree No. 95/2021/ND-CP dated November 1, 2021, Decree No. 83/2014/ND-CP dated September 3, 2014, Circular No. 17/2021/TT-BCT dated November 15, 2021, Circular No. 104/2021/TT-BTC dated November 18, 2021. 2021 of the Ministry of Finance guiding the method of determining the constituent elements in the basic price formula of gasoline and oil, Circular No. 103/2021/TT-BTC dated November 18, 2021 of the Ministry of Finance guiding the method of setting up, spending, using and managing the Petroleum Price Stabilization Fund.

The Ministry of Industry and Trade will coordinate with relevant agencies to inspect and supervise the implementation of the responsibility of ensuring the supply of gasoline to the market by gasoline traders and will strictly handle violations (if any).

Source: https://moit.gov.vn/tin-tuc/thong-bao/mot-so-thong-tin-ve-viec-dieu-hanh-gia-xang-dau-ngay-02-01-2025.html