At the operating period on April 11, 2023, the Ministry of Industry and Trade - Finance decided to make an appropriation to the BOG Fund for E5RON92 gasoline at 150 VND/liter (previous period: 300 VND/liter), RON95 gasoline at 300 VND/liter (like previous period); diesel oil at 300 VND/liter (like the previous period); kerosene at 300 VND/liter (like the previous period); Fuel oil is at 0 VND/kg (previously 300 VND/kg).
The world petroleum market in this operating period (from April 3, 2023 to April 11, 2023) is influenced by factors such as: The Organization of Petroleum Exporting Countries (OPEC) and other currencies. alliance, also known as OPEC+, agreed to increase voluntary output cuts from May to 1.6 million barrels per day to stabilize the global market; Fears of inflation and tightening monetary policy affect the global economic recovery...; These factors cause gasoline prices to fluctuate up and down, but generally increase.
The average price of world petroleum products between the price management period on April 3, 2023 and the operating period on April 11, 2023 is: 101,640 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (an increase of 7,818 USD/barrel , equivalent to an increase of 8,33% compared to the previous period); 104,672 USD/barrel of RON95 gasoline (an increase of 6,378 USD/barrel, equivalent to an increase of 6,49% compared to the previous period); 99,356 USD/barrel of kerosene (an increase of 4,528 USD/barrel, equivalent to an increase of 4,78% compared to the previous period); 101,504 USD/barrel of diesel oil (an increase of 4,613 USD/barrel, equivalent to an increase of 4,76% compared to the previous period); 464,084 USD/ton of 180CST 3.5S fuel oil (an increase of 54,156 USD/ton, equivalent to an increase of 13,21% compared to the previous period).
The Covid-19 epidemic situation in the country is under control, production and business activities of people and businesses have recovered.
This executive period, in response to the above developments in world gasoline prices and current regulations, the Ministry of Industry and Trade and Finance decided to: Reduce the level of BOG Fund appropriation for E5RON92 gasoline product and stop BOG Fund appropriation. for fuel oil products; maintain the BOG Fund appropriation level for RON95 gasoline, diesel oil and kerosene; continue not to spend the BOG Fund on gasoline, diesel and kerosene products; BOG Fund expenditure on fuel oil products.
The above gasoline price management plan aims to contribute to ensuring that domestic gasoline price fluctuations are basically consistent with fluctuations in world gasoline prices; continue to maintain the price difference between biofuel E5RON92 and mineral gasoline RON95 at a reasonable level to encourage the use of biofuel to protect the environment according to the Government's policy; ensure harmony of interests among market participants, help support petroleum businesses to maintain and supply gasoline to the domestic market; Minimize negative impacts on socio-economic development, production and business activities and people's lives.
1. Gasoline Price Stabilization Fund
– BOG Fund appropriation: Implement BOG Fund appropriation for E5RON92 gasoline at 150 VND/liter (previous period: 300 VND/liter), RON95 gasoline at 300 VND/liter (like previous period); diesel oil at 300 VND/liter (like the previous period); kerosene at 300 VND/liter (like the previous period); Fuel oil is at 0 VND/kg (previously 300 VND/kg).
– Expenses for using the BOG Petroleum Fund: Do not spend the BOG Fund for gasoline, diesel and kerosene products; BOG Fund expenditure for fuel oil products is at 300 VND/kg.
2. Gasoline selling price
After making provisions and not using the Petroleum Price Stabilization Fund in Section 1 above, the selling prices of popular consumer petroleum products on the market are as follows:
– E5RON92 gasoline: no higher than 23,173 VND/liter (an increase of 1,091 VND/liter compared to the current retail price), 1,072 VND/liter lower than RON95-III gasoline;
– RON95-III gasoline: not higher than 24,245 VND/liter (an increase of 1,120 VND/liter compared to the current retail price);
– Diesel oil 0.05S: not higher than 20,149 VND/liter (up 719 VND/liter compared to the current retail price);
– Kerosene: no higher than 19,739 VND/liter (an increase of 702 VND/liter compared to the current retail price);
– 180CST 3.5S fuel oil: not higher than 15,194 VND/kg (an increase of 765 VND/kg compared to the current retail price).
3. Implementation time
– Setting up, not using the Petroleum Price Stabilization Fund for petroleum products: applicable from 3:00 p.m. April 11, 2023.
– Application of selling prices for petroleum products: prescribed by the main petroleum traders and petroleum distributors but no earlier than 3:00 p.m. on April 11, 2023.
– From 15:00 on April 11, 2023, the time when the Ministry of Industry and Trade announces the base price for the period announced in this Official Dispatch until the date before the Ministry of Industry and Trade announces the base price for the next period, the adjustment The selling prices of petroleum products are decided by the main petroleum traders and petroleum distributors in accordance with the provisions of Decree No. 95/2021/ND-CP dated November 1, 2021 of the Government. Government amends and supplements a number of articles of Decree No. 83/2014/ND-CP dated September 3, 2014 on petroleum business and Decree No. 83/2014/ND-CP, Circular No. 104/2021/ TT-BTC dated November 18, 2021 of the Ministry of Finance guiding the method of determining constituent elements in the gasoline and oil base price formula, Circular No. 103/2021/TT-BTC dated November 18, 2021 of the Ministry Finance guides on methods of setting up, spending, using and managing the Petroleum Price Stabilization Fund.
4. The Ministry of Industry and Trade will coordinate with competent agencies to inspect and supervise the implementation of the responsibility to ensure the supply of petroleum to the market by petroleum traders and will strictly handle violations. violation (if any).
Source: Ministry of Industry and Trade
