On the afternoon of March 21, 2023, the Inter-Ministry of Industry and Trade – Finance decided to simultaneously lower the price of petroleum products.

In this period of operation, the inter-ministerial department established a Price Stabilization Fund (BOG) for E5RON92 gasoline at VND 300/liter (same as the previous period), RON95 gasoline at VND 300/liter (same as the previous period). . ; Diesel oil at VND 300/liter (as in the previous period); kerosene at VND 300/liter (as in the previous period); Fuel oil at 300 VND/kg (last period 0 VND/kg).

At the same time, the BOG fund is not issued for all petroleum products (as in the previous period).

After BOG was established for gasoline prices and not used, the selling prices of popular consumer petroleum products in the market are as follows:

E5RON92 petrol: no higher than VND 22,022/liter (minus VND 784/liter compared to current retail price), VND 1,016/liter lower than RON95-III petrol.

RON95-III petrol: no more than VND 23,038/liter (minus VND 780/liter compared to the current retail price).

Diesel oil 0.05S: no higher than VND 19,302/litre (reduced by VND 1,200/litre from the current retail price).

Kerosene: not higher than VND 19,462/litre (VND 1,253/litre minus 1,253/litre compared to the current retail price).

Fuel oil 180CST 3.5S: not higher than 14,479 VND/kg (minus 800 VND/kg compared to current retail price).

According to the Inter-Ministry, during this period of operation (from 13 ); concerns about events by some banks in the US and Europe that could affect production and operations…; These factors cause the price of gasoline to fluctuate but generally go down.

Specifically, the average world price of petroleum products between the price management period on March 13, 2023 and the operational period on March 21, 2023 is: $92,242/barrel RON92 gasoline used to produce E5RON92 gasoline (decrease of $4,119/barrel, equivalent a decrease of 4.27% compared to the previous period); $96,512/barrel RON95 gasoline (down $3,741/barrel, down 3.73% from the previous period).

Kerosene was also at $97,152/barrel (down $7,180/barrel, down 6.88% from the previous period); Diesel oil cost $96,317/barrel (down $6,828/barrel, down 6.62% from the previous period); mazut 180CST 3.5S at $412,637/tonne (down $40,858/tonne, down 9.01% from the previous period).

In view of the above-mentioned global gasoline price movement, the Ministry of Industry and Trade – Finance decided to maintain the level of establishing the BOG fund for 02 gasoline products, 02 diesel and kerosene products; Establishment of the BOG fund for heating oil products (no deduction in the previous period) and still no issuance of the 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, ensuring the harmony of interests between market participants, assisting petroleum and oil companies in servicing and supplying petroleum for the domestic market; Minimizing negative impacts on socio-economic development, production and business activities and people’s lives.