Latest: Gasoline price since 15:00 on June 13, 2022 officially exceeded 32,000 VND/liter?
How is the petrol price stabilization fund implemented?
Faced with developments in world gasoline and oil prices in Vietnam on June 1, 2022, the Ministry of Industry and Trade issued Official Letter 3309/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: 0 VND/liter;
- RON95 gasoline: 0 VND/liter;
- Diesel oil: 0 VND/liter;
- Kerosene: 0 VND/Iit;
- Madut oil: 300 VND/kg.
1.2. Expenses for using the Petroleum Price Stabilization Fund
- E5RON92 gasoline: 100 VND/liter;
- RON95 gasoline: 200 VND/liter;
- Diesel oil: 400 VND/liter;
- Kerosene: 300 VND/Iit;
- Madut oil: 0 VND/kg. "
Accordingly, the deduction for petrol price stabilization fund will be E5RON92 gasoline at 0 VND/liter, RON95 gasoline at 0 VND/liter, diesel oil at 0 VND/liter, kerosene at 0 VND/liter and madut oil at 300 VND. /kg. Meanwhile, the expenditure level for using the petrol price stabilization fund of madut oil is 0 VND/kg, kerosene is 300 VND/liter, diesel oil is 400 VND/liter, E5RON92 petrol is 100 VND/liter and RON95 petrol is 200 VND/liter.
Latest: Gasoline price since 15:00 on June 13, 2022 officially exceeded 32,000 VND/liter?
What is the selling price of petrol after implementing the petrol and oil price stabilization fund?
According to the instructions in Official Letter 3309/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 31,117 VND/liter;
- RON95-III gasoline: not higher than 32,375 VND/liter;
- 0.05S diesel oil: not higher than 29,020 VND/liter;
- Kerosene: not higher than 27,839 VND/Iit;
- Oil 180CST 3.5S: not higher than 20,357 VND/kg.”
Accordingly, the maximum selling price of E5RON92 gasoline is VND 31,117 / liter, RON95-III gasoline is VND 32,375 / liter, maximum diesel oil is VND 29,020 / liter, maximum kerosene is VND 27,839 / liter and 180CST 3.5S fuel oil is maximum. maximum is 20,357 VND/liter.
From 3:00 pm on June 13, 2022, starting to apply the new petrol price?
According to the guidance in Official Dispatch 3309/BCT-TTTN in 2022, the time for applying the above petrol and oil prices in Vietnam 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 June 13, 2022.
- Adjustment of selling prices of petroleum products: regulated by the main petrol and oil traders and petrol and oil distributors but not earlier than 15:00 on June 13, 2022.
- From 3:00 p.m. on June 13, 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. 17/2001/ TT-BCT, Circular No. 103/2001/TT-BTC, Circular No. 104/2021/TT-BTC.”
Accordingly, the setting up and use of the petrol price stabilization fund will be applied from 3:00 p.m. on June 13, 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 June 13, 2022. From 3:00 p.m. on June 13, 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 before the date the Ministry of Industry and Trade announces the base price of the next period, the adjustment selling prices in Vietnam of petrol and oil products shall be decided by the main petrol and oil traders and petrol and oil distributors in accordance with the provisions of Decree 95/2021/ND-CP, Circular 17/2021/TT-CP. BCT, Circular 103/2021/TT-BTC, Circular 104/2021/TT-BTC.
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