The Ministry of Finance and Trade has announced adjustments to gasoline and oil prices effective from 3:00 pm, May 22nd.
The joint decision by the two ministries involves a decrease of 60 VND per liter for both RON 92 gasoline and RON 95 gasoline. Following this change, the retail price ceiling for RON 92 gasoline stands at 19,120 VND per liter, while RON 95 gasoline will now cost 19,530 VND per liter.
Contrarily, diesel oil experiences an increase of 180 VND per liter, reaching 17,400 VND. An upward adjustment is also applied to kerosene oil, which rises by 90 VND per liter to 17,310 VND. Mazut oil witnesses the most significant change with an increase of 350 VND per kilogram, resulting in a new price of 16,510 VND per kilogram.
Since the beginning of the year, there have been 10 instances of RON 95 gasoline price increases and 11 instances of decreases. Diesel oil has witnessed 10 price hikes, 10 reductions, and one instance where the price remained unchanged.
For this adjustment, the Ministries of Industry and Trade and Finance did not use the Price Stabilization Fund for gasoline and oil products.
In the previous adjustment (May 15), the retail price of RON 92 gasoline and RON 95 gasoline increased by 410 VND and 420 VND per liter, respectively. After the adjustment, the retail price of RON 92 gasoline was 19,180 VND per liter, and RON 95 gasoline was 19,590 VND per liter. The price of diesel oil also increased by 420 VND to 17,220 VND per liter.
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The domestic gasoline prices have witnessed another significant drop during the operating period on May 8th. Specifically, E5RON92 gasoline decreased by 377 VND per liter, while RON95-III gasoline dropped by 407 VND per liter. Similarly, various types of oil products also experienced reductions ranging from 550 VND per liter to 665 VND per kilogram when compared to the previous period.
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