Latest Gasoline Prices After Implementing the Gasoline Price Stabilization Fund: How Much Exactly? Gasoline Price Reduced to Nearly 23,000 VND per Liter?
What are the latest gasoline prices after the implementation of the gasoline price stabilization fund?
According to guidance in Official Dispatch 1576/BCT-TTTN of 2023, today's gasoline prices are stipulated as follows:
Gasoline and diesel selling prices
After the implementation of the establishment, without using the gasoline price stabilization fund noted in Section 1 above, the selling prices of popular gasoline and diesel products on the market shall not exceed the following prices:
- E5RON92 gasoline: not exceeding 22,022 VND/liter;
- RON95-III gasoline: not exceeding 23,038 VND/liter;
- Diesel 0.05S: not exceeding 19,302 VND/liter;
- Kerosene: not exceeding 19,462 VND/liter;
- Mazut 180CST 3.5S: not exceeding 14,479 VND/kg.
In this adjustment period, the price of gasoline has uniformly decreased. Specifically, the price of E5 RON 92 gasoline decreased by 784 VND/liter, while RON 95 gasoline increased by 780 VND/liter.
After adjustment, the maximum retail price for E5 RON 92 gasoline is 22,020 VND/liter and RON 95 gasoline is 23,030 VND/liter.
In addition, the prices of diesel products also uniformly decreased. Specifically, diesel dropped to 19,300 VND/liter, and kerosene dropped to 19,460 VND/liter.
Since the beginning of the year, this commodity has increased 05 times, decreased 03 times, and remained unchanged once.
What are the latest gasoline prices after the implementation of the gasoline price stabilization fund? Gasoline prices dropped close to 23,000 VND per liter? (Image from the Internet)
How is the gasoline price stabilization fund implemented?
On March 13, 2023, the Ministry of Industry and Trade issued Official Dispatch 1576/BCT-TTTN of 2023 providing guidance on the implementation of the gasoline price stabilization fund as follows:
Amid the fluctuations in global gasoline product prices recently and to administer gasoline prices according to the market mechanism under state management, the Ministry of Industry and Trade and the Ministry of Finance have decided:
Gasoline price stabilization fund
1.1. Contributions to the gasoline price stabilization fund
- E5RON92 gasoline: 300 VND/liter;
- RON95 gasoline: 300 VND/liter; - Diesel: 300 VND/liter;
- Kerosene: 300 VND/liter;
- Mazut: 0 VND/kg.
1.2. Utilization of the gasoline price stabilization fund
- E5RON92 gasoline: 0 VND/liter;
- RON95 gasoline: 0 VND/liter;
- Diesel: 0 VND/liter;
- Kerosene: 0 VND/liter; - Mazut: 0 VND/kg.
The contribution level to the gasoline price stabilization fund will be E5RON92 gasoline at 300 VND/liter (previously 250 VND/liter), RON95 gasoline at 300 VND/liter (previously 200 VND/liter);
Meanwhile, the utilization level of the gasoline price stabilization fund for diesel will be 300 VND/liter (previously 500 VND/liter); kerosene at 300 VND/liter (same as previous); mazut at 0 VND/kg (same as previous).
Is it true that new gasoline and diesel prices will be applied from March 13, 2023?
According to guidance in Official Dispatch 1576/BCT-TTTN of 2023, the time to apply these gasoline and diesel prices is as follows:
3. Implementation time
- Contributions and utilization of the gasoline price stabilization fund for gasoline and diesel products: Applicable from 15:30 on March 21, 2023.
- Adjustments to the selling prices of gasoline and diesel products: Implemented by gasoline and diesel trading enterprises but no later than 15:30 on March 21, 2023, for products with price reductions, and no earlier than 15:30 on March 21, 2023, for products with price increases.
- From 15:30 on March 21, 2023, until before the Ministry of Industry and Trade announces the next cycle base prices, price adjustments of gasoline and diesel products will be decided by gasoline and diesel trading enterprises, 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.
The contribution and utilization of the gasoline price stabilization fund will be applied from 15:30 on March 21, 2023. Adjustments to the selling prices of gasoline and diesel products: Implemented by gasoline and diesel trading enterprises but no later than 15:30 on March 21, 2023.
From 15:30 on March 21, 2023, until before the Ministry of Industry and Trade announces the next cycle base prices, price adjustments of gasoline and diesel products will be decided by gasoline and diesel trading enterprises, in accordance with the provisions of Decree 95/2021/ND-CP, Circular 17/2021/TT-BCT, Circular 103/2021/TT-BTC, Circular 104/2021/TT-BTC.
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