On the afternoon of January 23, 2025, 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 neither deduct from nor 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 20,592 VND/liter (decreased by 158 VND/liter compared to the current base price) and 550 VND/liter lower than RON95-III gasoline.
RON95-III gasoline: not exceeding 21,142 VND/liter (a decrease of 78 VND/liter compared to the current base price).
0.05S diesel oil: not exceeding 20,194 VND/liter (an increase of 412 VND/liter compared to the current base price).
Kerosene: not exceeding 20,110 VND/liter (an increase of 404 VND/liter compared to the current base price).
180CST 3.5S mazut: not exceeding 17,752 VND/kg (an increase of 571 VND/kg compared to the current base price).
Regarding the reasons for the price adjustments, the Ministries cited factors such as cold weather in the US and Europe increasing fuel demand, the US President’s policies to boost domestic fossil fuel production, US tax policies towards certain countries, and the ongoing military conflict between Russia and Ukraine. These factors led to fluctuations in global gasoline and oil prices over the past few days, with varying increases and decreases depending on the product.
Specifically, the average price of world gasoline and oil products between the price adjustment period from January 16, 2025, to January 23, 2025, was as follows: 84.718 USD/barrel for RON92 gasoline (a decrease of 0.596 USD/barrel, equivalent to a 0.70% decrease) used to blend E5RON92 gasoline; 87.028 USD/barrel for RON95 gasoline (a decrease of 0.112 USD/barrel, equivalent to a 0.13% decrease); 96.476 USD/barrel for kerosene (an increase of 2.664 USD/barrel, equivalent to a 2.84% increase); 98.126 USD/barrel for 0.05S diesel oil (an increase of 2.702 USD/barrel, equivalent to a 2.83% increase); and 495.498 USD/ton for 180CST 3.5S mazut (an increase of 22.088 USD/ton, equivalent to a 4.67% increase)
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 price changes are consistent with world price movements. The plan also aims to maintain a reasonable price difference between biofuel E5RON92 and mineral RON95 to encourage the use of biofuels in line with the government’s policy, and to balance the interests of all market participants.
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