Gasoline prices drop sharply to below 20,000 VND/liter

From 3:00 p.m. on July 3, the price of RON 95 gasoline decreased by VND1,210/liter to VND19,900/liter. Since the beginning of the year, this product has increased in price 15 times and decreased in price 13 times.

RON 95 gasoline is sold at 19,900 VND/liter. Photo: Viet Linh.

As planned, the Ministry of Industry and Trade - Ministry of Finance adjusted retail gasoline prices periodically this afternoon (July 3).

In particular, the regulatory agency decided to reduce the retail price of E5 RON 92 gasoline by VND1,090/liter and RON 95 gasoline by VND1,210/liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is VND19,440/liter and RON 95 gasoline is VND19,900/liter.

Thus, the domestic price of RON 95 gasoline continues to decrease sharply in the second consecutive adjustment period. Since the beginning of the year, this fuel has increased 15 times and decreased 13 times.

Similarly, diesel prices were also adjusted down by VND940/liter to VND18,400/liter. So far, oil prices have increased 14 times and decreased 13 times.

Previously, leaders of some petroleum companies predicted that gasoline prices could drop sharply in today's operating period when world fuel prices cooled down. Currently, gasoline discounts at many warehouses are fluctuating around 1,800-2,150 VND/liter.

In this management period, the joint ministries still maintain no deductions or expenditures from the Petroleum Price Stabilization Fund.

Data from the Ministry of Finance shows that the balance of the Petroleum Price Stabilization Fund as of the end of the second quarter of 2024 was VND6,061 billion, down only VND18 billion compared to the previous quarter. However, compared to the end of 2023, the fund's size has decreased by nearly VND600 billion.

Of which, the balance at Vietnam National Petroleum Group (Petrolimex) accounts for more than half, at nearly 3,079 billion VND.

Some key enterprises and petroleum distributors also recorded large positive balances in the Price Stabilization Fund, such as Ho Chi Minh City Petroleum Company Limited (Saigon Petro) with 328 billion VND; Military Petroleum Corporation Limited Company (Mipec) with nearly 300 billion VND; Dong Thap Petroleum Trading Joint Stock Company with a positive balance of 460 billion VND.

Source: https://baohatinh.vn/gia-xang-giam-manh-xuong-duoi-20000-donglit-post291034.html