HCMC – Local retail prices of E5 RON92 bio-fuel and RON95 gasoline dropped by VND160-180 per liter as of 3 p.m. yesterday, October 27, after the fuel price stabilization fund was tapped, while oil prices rose by VND90-340 per liter/kilogram.
During this fuel price adjustment, the ministries of Industry and Trade and Finance decided not to extract money for each liter of bio-fuel E5 RON92 and each kilogram of heavy fuel oil sold to replenish the fund. Meanwhile, the extraction rate for each liter of RON95 petrol, diesel oil and kerosene is VND100, VND298, and VND100, respectively.
Besides this, local fuel traders were allowed to tap the stabilization fund at VND1,100 for each liter of E5 bio-fuel sold, VND300 for each liter of RON95 petrol sold, VND100 for each liter of kerosene and VND300 for each kilogram of heavy fuel oil sold.
Accordingly, the current ceiling prices of E5 bio-fuel and RON95 petrol are now at VND14,109 and VND14,940 per liter, respectively.
Diesel oil, kerosene and heavy fuel oil now sell for less than VND11,218, VND9,717, and 11,261 per liter/kilogram.
During the previous fuel price adjustment on October 12, the two ministries decided to raise the price of RON92 gasoline by VND53 per liter to VND14,268 and that of RON95 petrol by VND138 per liter to VND15,122. The diesel oil price was kept unchanged at VND11,128 per liter, while kerosene and heavy fuel oil sell for some VND9,590 per liter and VND10,920 per kilogram, up VND145 and VND95, respectively.