Some information about gasoline price management on August 15, 2024

The average price of finished petroleum products in the world between the price adjustment period on August 8, 2024 and the adjustment period on August 15, 2024 is: 86.385 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (up 1.189 USD/barrel, equivalent to an increase of 1.40%); 90.893 USD/barrel of RON95 gasoline (up 1.203 USD/barrel, equivalent to an increase of 1.34%); 93.020 USD/barrel of kerosene (up 1.190 USD/barrel, equivalent to an increase of 1.30%); 92.705 USD/barrel of 0.05S diesel oil (up 0.777 USD/barrel, equivalent to an increase of 0.85%); 469,243 USD/ton of 180CST 3.5S fuel oil (up 9,093 USD/ton, equivalent to an increase of 1.98%).

(Details in the table of statistics on world petroleum product prices between two management periods)

In this management period, given the above developments in world oil prices, the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade - Ministry of Finance 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 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuels 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 20,882/liter (increase of VND 167/liter compared to current base price), lower than RON95-III gasoline by VND 970/liter;

- RON95-III gasoline: no higher than VND 21,852/liter (an increase of VND 179/liter compared to the current base price);

- Diesel oil 0.05S: not higher than 19,230 VND/liter (increase 89 VND/liter compared to current base price);

- Kerosene: not higher than VND 19,572/liter (an increase of VND 161/liter compared to the current base price);

- 180CST 3.5S mazut oil: not higher than 16,245 VND/kg (increase 217 VND/kg compared to current base price).

Fluctuations in domestic gasoline prices from January 4, 2024 to August 15, 2024

3. Implementation time

- Provision and use of the Petroleum Price Stabilization Fund for petroleum products in Section 1 above: Applicable from 15:00 on August 15, 2024.

- 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 August 15, 2024.

- From 15:00 on August 15, 2024, 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.

4. 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 petroleum to the market by petroleum traders and will strictly handle violations (if any).

Source: https://moit.gov.vn/tin-tuc/thi-truong-trong-nuoc/mot-so-thong-tin-ve-viec-dieu-hanh-gia-xang-dau-ngay-15-8-2024.html