According to the ministries of Industry and Trade and Finance, the global petroleum market continued to have strong fluctuations. Oil and gas demand is expected to increase further as production and business activities continue to recover globally after the pandemic, especially after China began easing blockade measures in Covid-19 prevention and control.
Meanwhile, the supply to the market is obstructed by the agreement of the European Union on continuing to strengthen sanctions to 90 percent of petroleum output from Russia; oil reserves in the US remain at a low level; the OPEC+ has increased production but at a low level, not enough to cover the shortfall in supply from Russia.
Prices of finished petroleum products have escalated sharply over the past ten days, especially diesel oil and kerosene products. The average price of petroleum products in the world between June 1 and June 13 is US$149.28 per barrel of RON92 gasoline used to prepare E5 RON92 gasoline, up $5.27 per barrel, or 3.66 percent compared to the previous period; $154.74 per barrel of RON95 gasoline, up $2.79 per barrel, or 1.84 percent; $162.94 per barrel of kerosene, up $18.26 per barrel, or 12.62 percent; $166.59 per barrel of diesel oil, up $19.62 per barrel, or 13.36 percent; $635.93 per ton of fuel oil 180CST 3.5S, down $20.36 per ton, or 3.09 percent.
Therefore, following the regulations, instructions, and executive directions of the Government and competent authorities, the ministries of Industry and Trade and Finance decided not to set up the Fuel Price Stabilization Fund for gasoline products, diesel oil, and kerosene but set up the fund for fuel oil products at VND300 per kg.
At the same time, fuel traders are allowed to tap VND100 per liter for E5RON92 gasoline, VND200 per liter for RON95 gasoline, VND400 per liter for diesel oil, VND300 per liter for kerosene, and VND0 per kilogram for fuel oil.
Accordingly, E5RON92 gasoline is not higher than VND31,117 per liter, up VND882 per liter, VND1,259 per liter lower than RON95-III gasoline. If the fund were not spent at VND100 per liter, the selling price would be VND31,217 per liter, an increase of VND982 per liter.
RON95-III gasoline is not higher than VND32,375 per liter, up VND797 per liter. If the fund were not spent at VND200 per liter, the selling price would be VND32,575 per liter, up VND997 per liter.
Diesel oil 0.05S is not higher than VND29,020 per liter, up VND2,626 per liter.
Kerosene is not higher than VND27,839 per liter, up VND2,493 per liter. Fuel oil 180CST 3.5S is not higher than VND20,357 per kg, down VND544 per kg.
