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Thursday, June 20, 2024

Local oil prices fall slightly

The Saigon Times

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HCMC – Retail prices of gasoline in the local market were kept unchanged, while prices of other oil products were revised down by VND120-220 per liter or kilogram from 3 p.m. on August 11, according to an announcement jointly issued by the ministries of Industry and Trade and Finance.

E5 bio-fuel and RON95 gasoline prices stay put at VND20,500 and VND21,700, respectively.

Meanwhile, diesel oil dipped VND200 per liter to VND16,200, kerosene edged down VND220 per liter to VND15,200, and heavy fuel oil is priced at VND15,400 per kilogram, down VND120 per kilogram.

During this fuel price adjustment, the ministries continued not to extract money from any gasoline product to replenish the national fuel price stabilization fund. However, the extraction level for each liter or kilogram of diesel oil, kerosene and heavy fuel oil sold is VND100, VND150 and VND150, respectively.

Local fuel traders were also allowed to tap VND1,257 from the fund for each liter of bio-fuel E5 sold to customers and VND301 for each liter of RON95 petrol.

According to the ministries, the Covid-19 pandemic has continued to rage in HCMC, Hanoi and many parts of Vietnam, especially in the southern localities. To support the manufacturing activities of businesses and daily activities of local residents and avoid a hike in local fuel prices during this hard time, the ministries have allowed fuel wholesalers to tap a high amount of money from the fund for each liter or kilogram of fuel products sold.

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