On the afternoon of April 25, the Ministry of Finance and the Ministry of Industry and Trade decided to reduce E5 RON 92 gasoline by 310 VND/liter, down to 23,910 VND/liter; reduced by 320 VND/liter for RON 95 gasoline, down to 24,910 VND/liter. Thus, gasoline prices lost the mark of 25,000 VND/liter.
Explaining the cause of the price increase, the management agency said that the world petroleum market during this operating period (from April 17 to April 24) is influenced by many factors: the risk of direct conflict Relations between Israel and Iran decreased, US commercial crude oil inventories decreased, military conflict between Russia and Ukraine continued…
“The above factors have caused world gasoline prices in recent days to increase and decrease alternately depending on each product,” the joint Ministry of Finance and Industry and Trade assessed.
The average price of world petroleum products between the two price management periods is 101.2 USD/barrel of RON 92 gasoline used to blend E5 RON 92 gasoline (a decrease of 2.6 USD/barrel, equivalent to a decrease of 2.5% compared to with the previous period); 105.6 USD/barrel of RON 95 gasoline (down 2.6 USD/barrel, equivalent to a decrease of 2.4% compared to the previous period).
During this executive period, the inter-ministries did not make any appropriations and at the same time did not spend the stabilization fund for all gasoline products.
The Ministry of Finance and the Ministry of Industry and Trade believe that the above gasoline price management plan aims to contribute to ensuring that domestic gasoline price fluctuations are basically consistent with world gasoline price fluctuations; continue to maintain a reasonable price difference between E5 RON 92 biofuel and RON 95 mineral gasoline.
In addition, the above plan ensures harmony of interests among market participants; Minimize negative impacts on socio-economic development, production and business activities and people’s lives.
