Increase gasoline prices in Vietnam from 3:00 PM, February 20, 2025

Increase gasoline prices in Vietnam from 3:00 PM, February 20, 2025​ (Image from the internet)

On February 20, 2025, the Ministry of Industry and Trade issued Official Dispatch 1243/BCT-TTTN concerning the management of gasoline business operations.

Increase gasoline prices in Vietnam from 3:00 PM, February 20, 2025​

As per Official Dispatch 1243/BCT-TTTN, the price of RON 95-III gasoline (commonly available in the market) increased by 257 VND/liter, and E5RON92 gasoline increased by 257 VND/liter.

The changes in gasoline and oil prices are as follows:

Given recent global gasoline and oil price developments and the implementation of market-based gasoline price regulation with state management, the Ministry of Industry and Trade and the Ministry of Finance have decided:

(1) Price Stabilization Fund for Gasoline

+ Contribution to the Price Stabilization Fund for Gasoline:

+ E5RON92 gasoline: 0 VND/liter;

+ RON95 gasoline: 0 VND/liter;

+ Diesel oil: 0 VND/liter;

+ Kerosene: 0 VND/liter;

+ Fuel oil: 0 VND/kg.

- Expenditure from the Price Stabilization Fund for Gasoline:

+ E5RON92 gasoline: 0 VND/liter;

+ RON95 gasoline: 0 VND/liter;

+ Diesel oil: 0 VND/liter;

+ Kerosene: 0 VND/liter;

+ Fuel oil: 0 VND/kg.

(2) Sale Price of Gasoline and Oil

After implementing the contribution and expenditure from the Price Stabilization Fund for Gasoline for the gasoline and oil products as stated in Section 1 above, the retail price of common gasoline and oil products in the market shall not exceed the prices:

- E5RON92 gasoline: not to exceed 20,855 VND/liter;

- RON95-III gasoline: not to exceed 21,331 VND/liter;

- Diesel 0.05S: not to exceed 19,063 VND/liter;

- Kerosene: not to exceed 19,513 VND/liter;

- Fuel Oil 180CST 3.5S: not to exceed 17,596 VND/kg.

(3) Implementation Timeline

- Contribution and expenditure from the Price Stabilization Fund for Gasoline for products mentioned in Section 1: Applies from 3:00 PM, February 20, 2025.

- Adjustment of retail prices for gasoline and oil products: Determined by the leading gasoline business traders and gasoline distribution traders but not earlier than 3:00 PM, February 20, 2025, for products with price increases, and not later than 3:00 PM, February 20, 2025, for products with price decreases.

- From 3:00 PM, February 20, 2025, at which point the Ministry of Industry and Trade announces the base prices, until before the Ministry announces the next period's base prices, price adjustments for gasoline and oil products are decided by the leading gasoline business traders and gasoline distribution traders in accordance with the provisions outlined in Decree 83/2014/ND-CP, Decree 95/2021/ND-CP, Decree 80/2023/ND-CP, Circular 17/2021/TT-BCT, Circular 103/2021/TT-BTC, and Circular 104/2021/TT-BTC.

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