According to the gasoline price adjustment session on the afternoon of August 1, the price of RON 95-III gasoline (a popular type on the market) decreased by 280 VND, to 22,600 VND per liter. And E5 RON 92 is at 21,610 VND per liter, down 290 VND.
Oil products have a new price of 16,880-20,090 VND per liter. Compared to 7 days ago, diesel decreased by 320 VND, down to 19,870 VND per liter. Kerosene is 230 VND cheaper, mazut is 16,880 VND per kg.
Thus, domestic gasoline prices have decreased for the 4th consecutive session. From the beginning of the year until now, gasoline prices have increased 16 times and decreased 14 times. Oil increased 14 times and decreased 16 times. Since the beginning of the year, each liter of RON 95 gasoline has increased by 690 VND, while diesel oil has increased by 510 VND.
Explaining the reason for the price decrease, the management agency said that the world petroleum market during this operating period (from July 25 to July 31) is influenced by many factors.
The operator said new developments in the conflict in the Middle East region; US crude oil reserves decreased; China's oil demand tends to decrease; The conflict between Russia and Ukraine continues…
"The above factors have caused world gasoline prices in recent days to fluctuate up and down, but the main trend is down," the Ministry of Industry and Trade said.
In addition, the average price of world petroleum products between the two price management periods is 89.9 USD/barrel of RON 92 gasoline used to blend E5 RON 92 gasoline (a decrease of 1,274 USD/barrel, equivalent to a decrease of 1.4 USD). % compared to the previous period); RON 95 gasoline is 94.2 USD/barrel (down 1.4 USD/barrel, equivalent to a decrease of 1.46% compared to the previous period).
Similar to the previous operating period, this operating period, the inter-Ministry will not deduct or spend from the Petroleum Price Stabilization Fund for fuel products. This is the 41st period, since October 2023, the operator has not used the Price Stabilization Fund. By the end of 2023, this fund has a surplus of more than VND 6,655 billion, according to data from the Ministry of Finance.
