On the afternoon of April 3, the Ministry of Industry and Trade – Finance announced the decision to adjust gasoline prices.

In this period of operation, the inter-ministerial body decided to establish the Price Stabilization Fund (BOG) for E5RON92 gasoline at VND 300/liter (same as previous period), RON95 gasoline at VND 300/liter (same as previous period). . beforehand); Diesel oil at VND 300/liter (as in the previous period); kerosene at VND 300/liter (as in the previous period); Fuel oil at VND 300/kg (as in the previous period).

At the same time, do not spend the BOG fund on all petroleum products (as in the previous period).

After deductions and without using the BOG petroleum fund, the selling prices of popular consumer petroleum products in the market are as follows:

E5RON92 petrol: no higher than VND 22,082/liter (plus VND 60/liter compared to current retail price), VND 1,043/liter lower than RON95-III petrol;

RON95-III petrol: no more than VND 23,125/litre (an increase of VND 87/litre from the current retail price).

0.05S diesel oil: no higher than VND 19,430/litre (plus VND 128/litre compared to the current retail price).

Kerosene: no higher than VND 19,037/liter (minus VND 425/liter compared to the current retail price).

Fuel oil 180CST 3.5S: not higher than 14,429 VND/kg (minus 50 VND/kg compared to current retail price).

Regarding the reason for the price increase, the interdepartmental department said that this time (from March 21, 2023 to April 3, 2023) the world oil market will be affected by factors such as the problems faced by some banks in the US and Europe, after the banks were saved; concerns about oil supply disruptions from Iraq, Russia’s plan to cut production and information on US crude reserves…; These factors affect the rise and fall of gasoline prices.

Specifically, the average price of petroleum products in the world between the price management period on March 21, 2023 and the operational period on April 3, 2023 is: $93,822/barrel of RON92 gasoline used to produce E5RON92 gasoline (increase of $1,581/ barrels, up 1.71% from the previous period); $98,294/barrel RON95 gasoline (up $1,783/barrel, up 1.85% over the previous period); $94,828/barrel of kerosene (down $2,324/barrel, down 2.39% from the previous period); $96,891/barrel diesel (+ $0.574/barrel, up 0.6% over the previous period); $409,928/tonne 180CST 3.5S fuel oil (down $2,709/tonne, down 0.66% from the previous period).

In this period of operation, in light of the above-mentioned global oil price movement, the Ministry of Industry and Trade – Finance has decided: to maintain the current level of establishment of the BOG Fund for Gasoline and Oil Products and continue not to issue a BOG Fund for all petroleum products.

The above gasoline and oil price management plan aims to ensure that the retail price fluctuations of petroleum products in the country are consistent with the fluctuations in world gasoline prices; continue to keep the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level in order to promote the use of biofuel to protect the environment in line with government policies; Creating space for the BOG fund to manage gasoline prices in the near future in the context of unstable world gasoline prices.

At the same time, ensure the harmonization of interests between market participants, help to assist the petroleum and petroleum companies in the maintenance and delivery of petroleum and petroleum in the domestic market; Minimizing negative impacts on socio-economic development, production and business activities and people’s lives.