RON95 gasoline price increased by nearly 1,500 VND/liter.

TPO - From 3 PM today (May 21st), domestic gasoline and diesel prices have increased sharply across the board. RON95-III gasoline increased by 1,471 VND/liter, reaching 25,549 VND/liter.

The Ministry of Industry and Trade and the Ministry of Finance have just decided to increase the retail price of E5RON92 gasoline to 24,340 VND/liter, an increase of 1,206 VND/liter compared to the previous price adjustment. RON95-III gasoline will be priced no higher than 25,549 VND/liter, an increase of 1,471 VND/liter.

Oil prices also increased sharply. Diesel 0.05S is priced at 28,761 VND/liter, an increase of 1,535 VND/liter. Mazut 180CST 3.5S is priced at 21,483 VND/kg, an increase of 898 VND/kg.

During this price adjustment period, the inter-ministerial committee continued to neither allocate funds nor utilize the Fuel Price Stabilization Fund for all gasoline and diesel products. This adjustment was made in the context of an upward trend in world refined petroleum product prices between the two price announcement periods.

According to the Ministry of Industry and Trade, the base prices announced on May 21st increased by 5.21% for E5RON92 gasoline, 6.11% for RON95-III gasoline, 5.64% for diesel fuel, and 4.36% for fuel oil compared to the previous period.

Fuel prices will increase across the board starting at 3 PM this afternoon.

This price adjustment comes as key businesses are accelerating preparations to launch the nationwide sale of E10 bioethanol fuel from June 1st, as per the Ministry of Industry and Trade's roadmap.

Recently, many large petroleum companies have stepped up upgrades to their blending systems, prepared storage infrastructure, and increased imports of fuel ethanol to serve E10 blending. Some leading companies have indicated that the demand for ethanol is expected to increase sharply in the near future as the market enters a larger-scale biofuel transition phase.

The implementation of E10 is expected to help diversify fuel sources, reduce emissions, and promote the consumption of biofuels domestically.

The Ministry of Industry and Trade stated that it will coordinate with relevant agencies to inspect and monitor the fulfillment of responsibilities in ensuring the supply of petroleum products to the market by key traders and distributors, and will strictly handle any violations if they occur.

Source: https://tienphong.vn/xang-ron95-tang-gan-1500-donglit-post1845139.tpo