Gasoline prices slightly decrease after approaching 24,000 VND/liter?

Speaking to Dan Tri reporters, leaders of several petroleum companies said that last week, the average price of finished gasoline in the Singapore market tended to decrease compared to the previous period. The adjustment was not too large.

Based on world price developments, businesses forecast that in the operating period on February 22, domestic E5 RON 92 gasoline prices may decrease by 400-500 VND/liter, RON 95 gasoline may decrease by 300-400 VND/liter. Similarly, diesel is forecast to decrease by 350-450 VND/liter.

If the forecast is correct, domestic gasoline prices will have their second price reduction since the beginning of the year. Meanwhile, if the Ministry of Industry and Trade and the Ministry of Finance draw from the stabilization fund, gasoline prices may decrease less, or even not at all.

Last week, at the operating session on February 15 (right after Lunar New Year), the Ministry of Finance and the Ministry of Industry and Trade decided to increase the price of E5 RON 92 gasoline by 711 VND/liter to 22,831 VND/liter; and increase the price of RON 95 gasoline by 657 VND/liter to 23,919 VND/liter.

Recently, the Ministry of Industry and Trade issued a document requesting key traders and petroleum distributors to inspect and review the current status and conditions for granting business licenses for petroleum export and import, and certificates of eligibility to act as key traders and petroleum distributors.

The main trader will have to report in detail on the conditions of having a dedicated wharf (ownership, lease, capacity to receive oil tankers); oil receiving warehouse (quantity, ownership, lease from which enterprise, where, lease period); means of transporting oil (quantity, ownership, lease, type of vehicle, lease period).

Key traders must also report specifically on the petroleum distribution system, including listing owned stores, rented stores (for 5 years or more), petroleum retail agents, petroleum retail franchisees, and petroleum general agents.

In addition, distributors must report their petroleum distribution system with information on owned stores, rented stores, stores affiliated with petroleum retail agents, stores affiliated with traders that have received the right to retail petroleum, etc.

Source