Monday,  Jul 23, 2018,20:20 (GMT+7) 0 0
Gasoline prices inch down
Minh Tam
Saturday,  Oct 7, 2017,23:28 (GMT+7)

Gasoline prices inch down

Minh Tam

HCMC – Local fuel trading enterprises revised down their retail prices of gasoline on October 5, following a joint decision of the ministries of industry-trade and finance.

The retail prices of A92 gasoline and A92-E5, a bio-fuel mixed between A92 gasoline and ethanol, decreased by VND120 and VND100 respectively to VND17,990-17,730 per liter.

Meanwhile, the price of diesel inched up VND140 to VND14,580 per liter. Notably, the price of kerosene rose sharply by VND310 to VND13,430 per liter.

Fuel wholesalers are now given the green light to both raise the prices of diesel and kerosene, and tap the national fuel price stabilization fund in order to offset the differentials between the base prices – constituted by the average import prices, taxes and fees – and the retail prices.

They are allowed to get respective sums of VND130, VND110, VND180, and VND190 from the fund for each liter of A92 gasoline, E5 biofuel, diesel, and kerosene sold.

The ministries explained the reason behind the price adjustment that the average prices of fuel imports in the 15-day period ending on October 4 rose compared to the previous period. As such, the prices of gasoline inched down after five consecutive increases.

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