On the afternoon of November 21, the Ministries of Industry and Trade and Finance announced adjustments to the selling prices of gasoline and oil products.
In this price adjustment, the Ministries continued to not use the Price Stabilization Fund for RON92 gasoline, RON95 gasoline, 0.05S diesel oil, kerosene, and mazut.
After the adjustment, the selling prices of popular gasoline and oil products in the market are as follows:
RON92 gasoline: not exceeding 19,343 VND/liter (down 109 VND/liter compared to the current base price), 1,185 VND/liter lower than RON95-III gasoline.
RON95-III gasoline: not exceeding 20,528 VND/liter (down 79 VND/liter compared to the current base price).
0.05S diesel oil: not exceeding 18,509 VND/liter (down 64 VND/liter compared to the current base price).
Kerosene: not exceeding 18,921 VND/liter (down 67 VND/liter compared to the current base price).
180CST 3.5S mazut: not exceeding 16,014 VND/kg (up 5 VND/kg compared to the current base price).
Regarding the reason for the decrease in gasoline and oil prices, the Ministries said that the world gasoline and oil market in this price adjustment period (from November 14, 2024, to November 20, 2024) was influenced by factors such as China’s economic stimulus plan falling short of investors’ expectations, ongoing conflicts in the Middle East, and military conflicts between Russia and Ukraine escalating. These factors caused fluctuations in world gasoline and oil prices in recent days, with prices increasing for some products and decreasing for others.
Specifically, the average price of world gasoline and oil products between the price adjustment period on November 14, 2024, and November 21, 2024, was as follows: 77.578 USD/barrel for RON92 gasoline (down 0.676 USD/barrel, or 0.86%); 83.646 USD/barrel for RON95 gasoline (down 0.482 USD/barrel, or 0.57%); 88.612 USD/barrel for kerosene (down 0.456 USD/barrel, or 0.51%); 88.202 USD/barrel for 0.05S diesel oil (down 0.436 USD/barrel, or 0.49%); and 450.048 USD/ton for 180CST 3.5S mazut (down 0.156 USD/ton, or 0.03%).
In this price adjustment, given the fluctuations in world gasoline and oil prices, exchange rate movements, and current regulations, the Ministries of Industry and Trade and Finance decided on a price adjustment plan to ensure that domestic gasoline and oil prices are suitable for the world gasoline and oil market. The Ministries also aim to maintain a reasonable price difference between bio-fuel E5RON92 and RON95 to encourage the use of bio-fuel following the Government’s policy and to ensure the harmony of interests among market participants.
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