The Inter-Ministry of Industry, Trade and Finance decided to reduce gasoline prices in the operating period on March 21.
Specifically, the price of gasoline E5RON92 is not higher than 28,330 VND/liter (down 655 VND/liter compared to the current price).
RON95-III gasoline is not higher than 29,192 VND/liter (down 632 VND/liter compared to the current retail price).
0.05S diesel oil is not higher than 23,633 VND/liter (decreased by 1,635 VND/liter compared to the current retail price).
Kerosene is not higher than 22,245 VND/liter (down 1,673 VND/liter compared to the current retail price).
180CST 3.5S mazut oil is not higher than 20,423 VND/kg (down 564 VND/kg compared to current selling price).
In this operating period, the average price of petroleum products on the world market between the two operating periods decreased compared to the average price of the previous period (although it has been on an upward trend in recent days), The level of expenditure of the BOG Fund for the products being applied is relatively high (from 300-1,500 VND/liter) while the balance of the BOG Fund is almost exhausted (at 13 enterprises the Fund is negative).
Currently, the price stabilization fund at some large petroleum trading enterprises is at negative level. Petrolimex negative 470 billion VND, PVoil on 11/3 also negative 840 billion VND.
Faced with the above situation, in order to have room to manage prices in the coming periods when the market is still complicated, the Inter-Ministry of Industry and Trade – Finance decided to reduce spending using the Price Stabilization Fund for petroleum products, started to set up the BOG Fund for some commodities so that the prices of domestic petroleum products fluctuate according to the trend of world prices, reducing pressure on the BOG Fund and having room to control prices for the next periods.
Accordingly, setting up a Price Stabilization Fund for E5RON92 gasoline at 200 VND/liter, RON95 gasoline at 50 VND/liter, diesel oil at 400 VND/liter, kerosene at 300 VND/liter, and fuel oil at zero setting.
As expected, in the program of the second session of the ninth session, the National Assembly Standing Committee will consider the Government’s proposal regarding a 50% reduction of the environmental protection tax rate for gasoline, oil and grease until the end of December 31, 2022.