Latest update on petrol prices sold on the market since May 11, 2022?
How is the petrol price stabilization fund implemented?
In the face of developments in world gasoline in Vietnam and oil prices, on May 11, 2022, the Ministry of Industry and Trade issued Official Letter 2531/BCT-TTTN in 2022 guiding the implementation of the petrol price stabilization fund as follows:
“Faced with the recent developments in world petroleum product prices and the implementation of petrol and oil price management according to the market mechanism under the management of the State, the Ministry of Industry and Trade and the Ministry of Finance decided:
1. Petroleum Price Stabilization Fund
1.1. Deduction for setting up petrol price stabilization fund
- E5RON92 gasoline: 100 VND/liter;
- RON95 gasoline: 100 VND/liter;
- Diesel oil: 100 VND/liter;
- Kerosene: 0 VND/Iit;
- Madut oil: 0 VND/kg.
1.2. Expenses for using the Petroleum Price Stabilization Fund
- E5RON92 gasoline: 0 VND/liter;
- RON95 gasoline: 0 VND/liter;
- Diesel oil: 0 VND/liter;
- Kerosene: 300 VND/Iit;
- Madut oil: 33 VND/kg. "
Accordingly, the deduction for petrol price stabilization fund will be E5RON92 gasoline in Vietnam at 100 VND/liter, RON95 gasoline on Vietnam at 100 VND/liter, diesel oil at 100 VND/liter, kerosene at 0 VND/liter and madut oil at 0 VND. /kg. Meanwhile, the spending level for using the petrol price stabilization fund of madut oil is 33 VND/kg, kerosene is 300 VND/liter, for the rest, the spending level of the petrol price stabilization fund is 0 VND.
Latest update on petrol prices sold on the market since May 11, 2022?
What is the selling price of petrol after implementing the petrol and oil price stabilization fund?
According to the instructions in Official Letter 2531/BCT-TTTN in 2022, the selling price of petrol is regulated as follows:
“After making the setting up and spending for the use of the Petroleum Price Stabilization Fund in Section 1 above, the selling price of popular consumer petroleum products on the market is not higher than the price:
- E5RON92 gasoline: not higher than 28,959 VND/liter;
- RON95-III gasoline: not higher than 29,988 VND/liter;
- 0.05S diesel oil: not higher than 26,650 VND/liter;
- Kerosene: not higher than 25,168 VND/Iit;
- Oil 180CST 3.5S: not higher than 21,560 VND/kg.”
Accordingly, the maximum selling price of E5RON92 gasoline in Vietnam is VND 28,959 / liter, RON95-III gasoline in Vietnam is VND 29,988 / liter, maximum diesel oil is 26,650 VND / liter, maximum kerosene is 25,168 VND / liter and 180CST 3.5S max. maximum is 21,560 VND/liter.
When will the above petrol price apply?
According to the instructions in Official Dispatch 2531/BCT-TTTN in 2022, the time for applying the above petrol and oil prices is as follows:
“3. Execution time
- Setting up and spending to use the Petroleum Price Stabilization Fund for petroleum products: Apply from 15:00' on May 11, 2022.
- Adjustment of selling prices of petrol and oil products: As regulated by petrol and oil wholesalers and petrol and oil distributors, but not earlier than 15:00 on May 11, 2022 for items with increased prices. .
- From 3:00 p.m. on May 11, 2022, which is the time when the Ministry of Industry and Trade announces the base price of the period announced in this Official Letter until before the date the Ministry of Industry and Trade announces the base price of the next period, the adjustment Adjusting the selling prices of petroleum products shall be decided by the main petrol and oil traders and petrol and oil distributors in accordance with the provisions of Decree No. 95/2021/ND-CP, Circular No. 17/2021 /TT-BCT , Circular No. 103/2021/TT-BTC , Circular No. 104/2021/TT-BTC.”
Accordingly, the setting up and use of the petrol price stabilization fund will be applied from 15:00 on 11/5/2022. Adjustment of selling prices of petrol and oil products: As prescribed by the main petrol and oil traders and petrol and oil distributors, but not earlier than 15:00 on 11/5/2022. From 3:00 p.m. on May 11, 2022, which is the time when the Ministry of Industry and Trade announces the base price of the period announced in this Official Dispatch until the date the Ministry of Industry and Trade announces the base price of the next period, the adjustment selling prices of petroleum products shall be decided by the main petrol and oil traders and petrol and oil distributors in accordance with the provisions of Decree No. 95/2021/ND-CP, Circular No. 17/2021/ TT-BCT, Circular No. 103/2021/TT-BTC, Circular No. 104/2021/TT-BTC.
World price of petroleum products from May 4, 2022 to May 10, 2022?
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