Simultaneous decrease in gasoline prices from 3 p.m. on March 1, 2023 in Vietnam

Simultaneous decrease in gasoline prices from 3 p.m. on March 1, 2023 in Vietnam (Internet image)

Below are the contents of Official Dispatch 1051/BCT-TTTN dated March 1, 2023 on petrol and oil business management issued by the Ministry of Industry and Trade of Vietnam. Specifically:

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

After adjusting the setting up and spending levels for the use of the Petroleum Price Stabilization Fund, the selling prices of popular consumer petroleum products on the market after 3pm on March 1, 2023 are adjusted as follows:

- E5RON92 gasoline: Not higher than 22,421 VND/liter (decrease by 121 VND/liter);

- RON95-III gasoline: not higher than 23,325 VND/liter (decrease by 118 VND/liter);

- 0.05S diesel oil: not higher than 20,255 VND/liter (decrease by 551 VND/liter);

- Kerosene: not higher than 20,474 VND/liter (decrease by 372 VND/liter);

- Fuel oil 180CST 3.5S: not higher than 14,555 VND/kg (decrease by 304 VND/kg).

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

According to Official Dispatch 1051/BCT-TTTN, the level of deduction for setting up the Petroleum Price Stabilization Fund is regulated as follows:

- E5RON92 gasoline: 250 VND/liter;

- RON95-III gasoline: 200 VND/liter;

- 0.05S diesel oil: 500 VND/liter;

- Kerosene: 300 VND/liter;

- Fuel oil: 0 VND/kg.

Not using the Petroleum Price Stabilization Fund.

More details can be found in Vietnam's Official Dispatch 1051/BCT-TTTN dated March 1, 2023.

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