Consumers moan Petrolimex exclusively to sell RON 95-V with price difference

In recent days, along with the local scarcity of gasoline at some stores, consumers have complained that it is difficult to buy RON 95-III gasoline, forcing them to buy RON 95-V gasoline at high prices at gas filling stations under the Vietnam National Petroleum Group.

Customer Nguyen Van Hai in Thu Duc City wondered why Petrolimex just announces the price of RON 95-III gasoline but unearth the price of RON 95-V gasoline. However, Petrolimex’s petrol filling stations sell RON 95-V gasoline with a price difference of VND600-VND700 a liter compared to RON 95-III.

Noticeably, most of Petrolimex's stores only sell RON 95-V gasoline and E5 RON-92 gasoline. The price difference between RON 95-V and RON 95-III gasoline prices is VND 680-VND690 a liter; similarly, the price difference between diesel 0.001S-V and diesel 0.05S-II is VND1,980-VND2,020 a liter respectively.

Mr. Vo Van Tan, Chairman of the Board of Directors of Petroleum Company Region II belonging to Petrolimex Saigon, informed that from January 1, 2022, Petrolimex has officially sold RON 95-V gasoline product, which is the highest-grade gasoline product in the Vietnamese market, with quality criteria equivalent to Euro 5 standards.

Subsequently, most of the gas stations in the inner city of Ho Chi Minh City have now been selling only this type of gasoline, plus E5 RON 92 gasoline. Only suburban and franchised stores will sell more RON 95-III gasoline, said Mr. Tan. Prices of these types of petroleum are published on the company's website as well as at gas stations.

He explained why some retailers can't buy from Petrolimex because when the supply is scarce, these retailers have just come while the group has to give priority to strategic partners and franchisees. He asserted that when the supply of gasoline products is normal, the group still sells all products for all retailers and consumers.

According to the latest draft of the National Technical Regulation QCVN 1:2021/BKHCN, RON 95-V gasoline has high technical requirements with quality criteria related to health, environment, and engine operation than gasoline products RON 95-III. Setting lower thresholds for these criteria will help the engine's combustion process to produce less harmful compounds; therefore, the product contributes to reducing harmful emissions and dust that affect health and the environment, and at the same time prolongs the life of the engine.

According to Mr. Vo Van Tan, although two products of RON 95-V gasoline and 0.001S-V diesel oil have higher prices than other kinds, making it difficult to compete with the others because consumers increasingly prefer them, businesses can still sell them. In particular, when using RON 95-V gasoline will help vehicles to run faster; as a result, it is more economical than other types of gasoline.

For good preparation for RON 95-V sale, right from the beginning of 2021, Petrolimex has built a business plan from import source to storage and transportation to retail stores, similar to when trading in Diesel 0.001S-V from the beginning of 2018. The business plan follows market demand, and Petrolimex will prioritize trading RON 95-V gasoline in the first phase in some provinces and cities with huge traffic flows such as Hanoi and Da Nang, and Ho Chi Minh City.

The representative of Petrolimex also said that the current source of RON 95-V gasoline is all imported. Up to now, Petrolimex’s 169 petrol stations in 28 localities have sold RON 95-V gasoline.

Particularly in the Ho Chi Minh City market, there are currently 71 petrol stations selling RON 95-V gasoline, accounting for about 35 percent of the market share in the area. Petroleum facilities can buy RON 95-V gasoline from Petrolimex, but they must have a plan and adequate facilities.

Regarding the basis for calculating the higher price of RON 95-V gasoline than other products, a representative of Petrolimex said, based on the provisions of Decree 95 on petroleum trading and guiding circulars, the selling price of RON gasoline 95-V is determined on the principle of applying the basic formula of the State and the actual purchase of the enterprise.

Prior on September 1, dozens of retail petrol stations in the Mekong Delta provinces of An Giang and Dong Thap asked to temporarily stop selling petroleum as they moaned to suffer losses whereas it is expected that there will be a period to adjust the retail price of gasoline across the country on September 2.