From 3pm on March 21, 2023, gasoline and oil prices to decrease by more than 1,000 VND/liter in Vietnam

From 3pm on March 21, 2023, gasoline and oil prices to decreas by more than 1,000 VND/liter in Vietnam (Internet image)

On March 21, 2023, the Ministry of Industry and Trade of Vietnam issued Official Dispatch 1576/BCT-TTTN on the management of petroleum businesses. Specifically:

1. Prices of gasoline and oil products from 3pm on March 21, 2023 in Vietnam

After adjusting the level of appropriation and expenditure for the use of the Petroleum Price Stabilization Fund, the selling prices of popular consumer petroleum products on the market after 3 p.m. on March 21, 2022 are adjusted as follows:

- E5RON92 gasoline: Not higher than 22,022 VND/liter (decreased by 784 VND/liter);

- RON95-III gasoline: not higher than 23,038 VND/liter (decreased by 780 VND/liter);

- 0.05S diesel oil: not higher than 19,302 VND/liter (decreased by 1,200 VND/liter);

- Kerosene: not higher than 19,462 VND/liter (decreased by 1,253 VND/liter);

- Fuel oil 180CST 3.5S: not higher than 14,479 VND/kg (decreased by 800 VND/kg).

2. Amount of deduction for petrol and oil price stabilization fund in Vietnam

According to Official Dispatch 1576/BCT-TTTN, the level of deduction for setting up the Petroleum Price Stabilization Fund is regulated as follows:

- E5RON92 gasoline: 300 VND/liter;

- RON95-III gasoline: 300 VND/liter;

- 0.05S diesel oil: 300 VND/liter;

- Kerosene: 300 VND/liter;

- Fuel oil: 300 VND/kg.

Not using the Petroleum Price Stabilization Fund.

For details, see Official Dispatch 1576/BCT-TTTN dated March 21, 2022.

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