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Gasoline prices decline for the fourth time in a row due to a sharp drop in world prices. (Photo: SGGP) |
Specifically, after adjustment, the current E5 RON92 gasoline price is as high as VND19,975 per liter, down VND371 per liter; RON95-III gasoline price is VND20,707, down VND493 per liter; 0.05S diesel oil price is VND21,601 per liter, down VND69 per liter; kerosene price is VND21,836 per liter, down VND65 per liter; fuel oil 180CST 3.5S price is VND12,863, down VND153 per kg.
According to the Ministry of Industry and Trade, the world petroleum market in the past ten days has been affected by some factors. Specifically, the US inflation is slowing down; China has loosened Covid-19 prevention measures; the International Energy Agency raised the forecast for global oil demand this year and next year; Central banks in Europe will possibly continue to increase interest rates, raising concerns about the risk of recession.
"The above factors have caused gasoline prices to fluctuate, but in general, it is a slight decrease for gasoline and fuel oil," the Ministry of Industry and Trade assessed.
According to the ministries, in this adjustment period, the global diesel oil and kerosene prices increased. However, due to a decrease in the USD/VND exchange rate of Vietcombank (the exchange rate used to calculate petrol base price), all the base prices of petroleum products declined.
To help petroleum products reduce prices, contributing to stabilizing the market at the end of the year and the Lunar New Year, the ministries have decided to keep the setting-up level of the Fuel Price Stabilization Fund for petroleum products and not to tap the fund for petroleum products so that the domestic petrol prices tend to move following the fluctuation trend of the aggregate of constitutive factors in the base price of petroleum products.
