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Thursday, September 29, 2022

Gasoline prices unchanged, diesel inches up

The Saigon Times

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HCM – Gasoline prices remained unchanged after having declined five straight times, while diesel oil and kerosene prices increased VND730-850 per liter.

Under the adjustment jointly made by the Ministries of Finance and Industry-Trade today, August 22, the bio-fuel E5 RON 92 and RON 95-III gasoline were kept unchanged at VND24,660 and 23,720, respectively.

Earlier, gasoline prices had been cut five consecutive times since July.

On the contrary, diesel oil and kerosene now sell for VND23,750 and VND24,050, up VND850 and VND730, respectively. Heavy fuel oil stays steady at VND16,540 per kilogram.

This time, the two ministries did not tap the fuel price stabilization fund to subsidize fuel prices, and lowered the fuel surcharge to replenish the fund.

The surcharge imposed on E5 RON 92, RON 95-III, diesel oil, kerosene, and heavy fuel oil were VND451, VND493, VND 250, VND400, and VND641 per liter/kilogram, respectively.

The two ministries said that the base costs of fuels had increased amid market volatility, especially for diesel and kerosene.

Given the price volatility, the ministries lowered the surcharges to replenish the fuel price stabilization fund to maintain the gasoline and heavy fuel oil prices and moderate the price increase of diesel oil and kerosene.

The current fuel prices are almost the same as the levels of last year.

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