The average price of finished petroleum products in the world between the price management period of October 17, 2024 and the management period of October 24, 2024 is: 79.718 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 1.284 USD/barrel, equivalent to a decrease of 1.59%); 85.946 USD/barrel of RON95 gasoline (down 1.504 USD/barrel, equivalent to a decrease of 1.72%); 86.918 USD/barrel of kerosene (down 1.520 USD/barrel, equivalent to a decrease of 1.72%); 85.934 USD/barrel of 0.05S diesel oil (down 2.706 USD/barrel, equivalent to a decrease of 3.05%); 459,390 USD/ton of 180CST 3.5S fuel oil (down 1,222 USD/ton, equivalent to a decrease of 0.27%).
In this management period, in the face of the above-mentioned developments in world oil prices, the sharp increase in 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 19,692/liter (down VND 38/liter compared to current base price), lower than RON95-III gasoline by VND 1,202/liter;
- RON95-III gasoline: no higher than VND 20,894/liter (down VND 68/liter compared to current base price);
- Diesel oil 0.05S: not higher than 18,057 VND/liter (down 264 VND/liter compared to current base price);
- Kerosene: not higher than VND 18,570/liter (down VND 57/liter compared to current base price);
- Madut oil 180CST 3.5S: not higher than 16,229 VND/kg (increase 139 VND/kg compared to current base price).
3. Implementation time
- Provision and use of the Petroleum Price Stabilization Fund for petroleum products in Section 1 above: Applicable from 15:00 on October 24, 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 October 24, 2024 for increased-priced products, and no later than 3:00 p.m. on October 24, 2024 for decreased-priced products.
- From 15:00 on October 17, 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.
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-24-10-2024.html
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