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On the afternoon of September 21, the ministries of Industry and Trade and Finance jointly adjusted the retail prices of petroleum products as per regulations. However, this adjustment was announced later than usual by about 30 minutes.
Following the adjustment of the reserve fund and expenditure usage within the Fuel Price Stabilization Fund, as of 4 p.m. on September 21, the new price for E5 RON92 gasoline is VND24,197 per liter, up VND726 per liter, while RON95-III gasoline is priced at VND25,748 per liter, up VND877 per liter.
Similarly, the price for 0.05S diesel is VND23,594 per liter, an increase of VND539 per liter; kerosene is priced at VND23,816 per liter, an increase of VND628 per liter; and mazut 180CST 3.5S is priced at VND17,847 per kilogram, an increase of VND143 per kilogram.
During this adjustment period, the ministries have chosen to maintain the policy of not mandating a reserve fund for all petroleum products. They do not utilize the fund for mazut but allocate it for two types of gasoline and two types of oil (kerosene and diesel) at a rate of VND300 per liter.
According to businesses, if the ministries did not allocate the Fuel Price Stabilization Fund in this period, it could lead to a gasoline price increase of over VND1,000 per liter.
