Prices of gas and oil fall by more than VND1,000 this afternoon

According to the Ministry of Industry and Trade and the Ministry of Finance, the world petroleum market in the past ten days saw a considerable fluctuation.

Petrol prices tended to decrease as the dollar continued to appreciate in the international market, central banks in many countries have applied the policy of raising interest rates to control inflation, and the epidemic situation in China remains tense and less demand which is pushing petrol prices down while US crude inventories increased.

Therefore, to support people's lives and production and business activities of enterprises as well as to maintain the stabilization fund for petrol to have room to stabilize the prices of petroleum products in the year-end period when gasoline prices still have many potentials of instability and to ensure that the prices of petroleum products in the country adjust according to the trend of world prices, the inter-ministries of Industry, Trade and Finance decided to reduce contributions for RON95 gasoline but maintain the fund for gasoline E5 RON92; at the same time, the two ministries will slightly increase the provision for fuel oil and keep the contribution for diesel and kerosene products according to regulations but at a low level.

After setting up and not using the Petroleum Price Stabilization Fund, from 3 PM this afternoon, the price of E5RON92 gasoline was VND22,231 per liter, down VND 1,128 a liter while that of RON95-III gasoline is VND23,215 a liter, down VND1,015 a liter.

Furthermore, 0.05S diesel oil currently has a selling price of VND24,180 a liter down VND 1,008 a liter, kerosene to VND24,418 a liter, down VND1,027 a liter, fuel oil 180CST 3.5S is VND15,039 a kg, down VND1,038 a kg.