After climbing for five consecutive times, the ministries of Industry and Trade and Finance, on November 25, decided to lower retail gasoline prices. However, the prices of RON95 and E5 RON92 gasoline remain at a high level.
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Accordingly, the price of E5 RON92 gasoline dropped by VND752 per liter to VND22,917 per liter, and that of RON95-III gasoline retreated to VND23,902 per liter, down VND1,094 per liter. Diesel oil 0.05S slid to VND18,382 per liter, a decrease of VND334 per liter. Kerosene was sold at VND17,197 per liter, down VND440 per liter. Fuel oil 180CST 3.5S declined by VND344 per kg to VND16,477 per kg.
In this adjustment, the ministries set up the Fuel Price Stabilization Fund at VND300 per liter for RON95 gasoline, VND150 per liter for diesel oil, VND300 per liter for kerosene, VND500 per kg for fuel oil, and no deduction for E5 RON92 gasoline.
At the same time, fuel traders are allowed to tap the Price Stabilization Fund for biofuel E5 RON92 gasoline at VND300 per liter, but not for other petroleum products.
Recently, the Ministry of Finance informed that the balance of the Fuel Price Stabilization Fund by the end of September 30, 2021, was only VND824.08 billion. From the beginning of this year to now, this fund has been spending heavily to keep gasoline prices at a reasonable level. Previously, by December 31, 2020, the total balance of the fund was over VND9.23 trillion.