On the afternoon of June 1, 2023, the Ministry of Industry and Trade – Finance made adjustments to the prices of gasoline and oil products.

In this operating period, the inter-ministerial body decided to establish the Price Stabilization Fund (BOG) for E5RON92 gasoline at VND 300/liter (same as the previous period) and RON95 gasoline at VND 300/liter (same as the previous period). . beforehand); Diesel oil at VND 300/liter (same as previous period); kerosene at VND 300/liter (same as the previous period); Fuel oil at 300 VND/kg (same as previous period). At the same time, do not spend the BOG fund on all gasoline and oil products.

After allocating funds and not spending through the BOG Gasoline and Oil Fund, the selling prices of popular consumer petroleum products in the market are as follows:

E5RON92 petrol: no more than VND 20,878/liter (increase of VND 390/liter compared to the current retail price).

Gasoline RON95-III: no more than VND 22,015/litre (increase of VND 516/litre compared to the current retail price).

Diesel 0.05S: no higher than VND 17,943/liter (VND 11/liter minus 11 compared to current retail price).

Kerosene: no higher than VND 17,771/litre (reduced by VND 198/litre from the current retail price).

Fuel oil 180CST 3.5S: not higher than 14,883 VND/kg (minus 275 VND/kg compared to current retail price).

According to the interministerial ministry, during this period of operation (from May 22, 2023 to June 1, 2023), the world oil market will be influenced by: the impact of OPEC+ production cuts; US government debt ceiling concerns; Industrial activity is stagnant and higher interest rates increase the risk of an economic recession. These factors affect the up and down swings in gasoline prices.

Specifically, the average price of petroleum products worldwide between the operating period on May 22, 2023 and the operating period on June 1, 2023 is: $87,438/barrel RON92 gasoline used to produce E5RON92 gasoline (increased by $2,292/barrel, which corresponds to an increase of 2.69% over the previous period); $92,433/barrel of RON95 gasoline (an increase of $2,800/barrel, a 3.12% increase over the prior period); $87,903/barrel of kerosene (down $1,285/barrel, down 1.44% from the previous period); $89,059/barrel diesel oil (down $0.126/barrel, down 0.14% on the previous period); $424,785 per tonne of 180CST 3.5S Mazut Oil (down $10,792 per tonne, down 2.48% sequentially).

In this period of operation, in view of the above-mentioned global gasoline price movements and the current regulations, the interdisciplinary Ministry of Industry and Trade – Finance has decided to maintain the same level of deduction as in Advance for the establishment of the BOG fund for all petroleum products and still not to use the BOG fund for dump all petroleum products.

The above gasoline and oil price management plan is designed to help ensure that domestic gasoline price fluctuations are broadly in line with world gasoline price fluctuations. continue to keep the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to promote the use of biofuel to protect the environment according to government policies.

At the same time, ensure that the interests of market participants are harmonized, and help petroleum and oil trading companies to supply and maintain the domestic market with petroleum and oil. Minimize negative impacts on socio-economic development, production and business activities, and people’s lives.