Petrol prices on April 4, 2024: Petrol prices decrease, oil prices increase? What are the specific petrol and oil prices in Vietnam?
- Petrol prices on April 4, 2024: Petrol prices decrease, oil prices increase? What are the specific petrol and oil prices in Vietnam?
- From 3:00 PM on April 4, 2024: The new petroleum prices in Vietnam implemented?
- How to implement the Petroleum Price Stabilization Fund of Vietnam?
- What are the rights and obligations of petrol and oil service providers in Vietnam?
Petrol prices on April 4, 2024: Petrol prices decrease, oil prices increase? What are the specific petrol and oil prices in Vietnam?
According to the coordination between the Ministry of Industry and Trade and the Ministry of Finance, after implementing the allocation and use of the Petroleum Price Stabilization Fund for petroleum products, the selling prices of commonly consumed petroleum products on the market are as follows:
- E5RON92 petrol: not exceeding 23,916 VND/liter (an increase of 291 VND/liter compared to the current base price), lower than RON95-III petrol by 885 VND/liter.
- RON95-III petrol: not exceeding 24,801 VND/liter (a decrease of 15 VND/liter compared to the current base price).
- Diesel 0.05S: not exceeding 20,988 VND/liter (an increase of 295 VND/liter compared to the current base price).
- Kerosene: not exceeding 21,015 VND/liter (an increase of 136 VND/liter compared to the current base price).
- Mazut 180CST 3.5S: not exceeding 17,296 VND/kg (an increase of 151 VND/kg compared to the current base price).
In the most recent petrol price adjustment period (March 28th), petrol prices were adjusted to increase, while oil prices decreased.
Therefore, in this latest price adjustment period, petrol prices are as follows:
Product | New Price | Change |
RON 95-III petrol | 24.801 | - 15 |
E5 RON 92 petrol | 23.916 | + 291 |
Diesel 0.05S | 20.988 | + 295 |
Kerosene | 21.015 | + 136 |
Mazut | 17.296 | + 151 |
Unit: VND/liter or kg, depending on the type
Above is the information about today's petrol prices on April 4, 2024.
Petrol prices on April 4, 2024: Petrol prices decrease, oil prices increase? What are the specific petrol and oil prices in Vietnam? (Image from the Internet)
From 3:00 PM on April 4, 2024: The new petroleum prices in Vietnam implemented?
According to the coordination between the Ministry of Industry and Trade and the Ministry of Finance:
- The Petroleum Price Stabilization Fund will be allocated for mazut at a rate of 300 VND/kg, and no allocation will be made for E5RON92 petrol, RON95 petrol, diesel, and kerosene.
- The Petroleum Price Stabilization Fund will not be used for E5RON92 petrol, RON95 petrol, diesel, kerosene, and mazut.
- The allocation and use of the Petroleum Price Stabilization Fund for the mentioned petroleum products will be applied from 3:00 PM on April 4, 2024.
- The adjustment of the selling prices of petroleum products will be determined by petroleum traders and distributors, but it must not be later than 3:00 PM on April 4, 2024 for price reduction and not earlier than 3:00 PM on April 4, 2024 for price increase.
- From 3:00 PM on April 4, 2024, until before the Ministry of Industry and Trade announces the base price for the next period, the adjustment of the selling prices of petroleum products will be decided by petroleum traders and distributors in accordance with the regulations of Decree 80/2023/ND-CP dated November 17, 2023, Decree 95/2021/ND-CP dated November 1, 2021, Decree 83/2014/ND-CP dated September 3, 2014, Circular 7/2021/TT-BCT dated November 15, 2021, Circular 104/2021/TT-BTC dated November 18, 2021 of the Ministry of Finance guiding the method of determining the components in the petroleum base price formula, and Circular 103/2021/TT-BTC dated November 18, 2021 of the Ministry of Finance guiding the method of allocation, use, and management of the Petroleum Price Stabilization Fund.
Source: Ministry of Industry and Trade's electronic portal.
How to implement the Petroleum Price Stabilization Fund of Vietnam?
According to the coordination between the Ministry of Industry and Trade and the Ministry of Finance, the implementation of the Petroleum Price Stabilization Fund is guided as follows:
Before recent fluctuations in global petroleum product prices and the implementation of market-oriented petroleum pricing with state management, the Ministry of Industry and Trade and the Ministry of Finance have decided on the following:
Petroleum Price Stabilization Fund
1.1. Allocation of the Petroleum Price Stabilization Fund
- E5RON92 petrol: 0 VND/liter;
- RON95 petrol: 0 VND/liter;
- Diesel: 0 VND/liter;
- Kerosene: 0 VND/liter;
- Mazut: 300 VND/kg.
1.2. Use of the Petroleum Price Stabilization Fund
- E5RON92 petrol: 0 VND/liter;
- RON95 petrol: 0 VND/liter;
- Diesel: 0 VND/liter;
- Kerosene: 0 VND/liter;
- Mazut: 0 VND/kg.
- Allocation of the Petroleum Price Stabilization Fund: The Fund is allocated for mazut at a rate of 300 VND/kg (same as the previous period), and no allocation is made for petrol, diesel, and kerosene.
- Use of the Petroleum Price Stabilization Fund: The Fund is not used for any petroleum products.
This is how the Petroleum Price Stabilization Fund is implemented, based on the guidance of the Ministry of Industry and Trade and the Ministry of Finance.
What are the rights and obligations of petrol and oil service providers in Vietnam?
Article 29 of Decree 83/2014/ND-CP and Clause 22, Article 1 of Decree 95/2021/ND-CP stipulate as follows:
Rights and obligations of petrol and oil service providers
1. Lease out the port, deport for receipt of petrol and oil; provide transport and filling services under concluded contracts.
2. To take responsibility for the volume and quality of petrol and oil in the process of receiving, preserving and transporting petrol and oil under contracts signed with traders using such services.
3. To be subject to supervision and management by service users. To furnish equipment for inspecting and supervising vehicles transporting petrol and oil.
4. Other petrol and oil-related activities (those of a major trader, distributor, general agent, agent, retail franchisee) must be conformable with applicable regulations
5. To comply with the laws on fire prevention and control and environmental protection in their business activities.
6. To build, apply, and maintain the effectiveness of, quality control systems.
Thus, the rights and obligations of petrol and oil service providers are implemented according to the above regulations.
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