Latest adjustment petrol prices drop

On July 3 by the Ministry of Industry and Trade and the Ministry of Finance, the retail petrol prices have been reduced by 400-500 VND per liter in the latest adjustment.

The ceiling price of E5 RON 92 petrol was adjusted down 408 VND per liter to 20,470 VND (0.87 USD) and that of RON 95 was down by 587 VND per liter to 21,428 VND per liter.

Meanwhile, the price of 0.05S diesel oil was capped at 18,169 VND per liter, down 5 VND per liter from the previous adjustment, and the ceiling kerosene price was adjusted down 30 VND to 17,926 VND per liter.

Only the price of mazut oil was adjusted up, increasing by 36 VND per kg to 14,623 VND per kg.

The last days of June saw gasoline prices continue to fluctuate. At 6:30 am on June 29, the price of WTI oil traded at 70.48 USD/barrel, up 2 USD/barrel while Brent oil traded at 74.69 USD/barrel, up 1.71 USD/ounce compared to that of June 29. early morning June 28. Oil prices rose slightly as US crude inventories fell more than expected and were pressured by concerns that rising interest rates could dent global economic growth.

Petrol prices drop in latest adjustment | Business | Vietnam+ (VietnamPlus)
In latest adjustment petrol prices drop.

Based on world price movements, businesses forecast that in the operating period on July 3, domestic gasoline may decrease by 100-300 VND/liter, while diesel oil may increase by 100 VND/liter. In case the inter-Ministry of Industry, Trade, and Finance deducts from the Petroleum Price Stabilization Fund, the petrol price may continue to remain the same or even increase slightly.

The retail price of gasoline in the country this morning (June 30) is applied according to the operating session on June 21. Specifically, the price of gasoline E5 RON92 remained at 20,878 VND/liter; RON-95 gasoline price also remained unchanged at 22,015 VND/liter.

Meanwhile, the price of diesel oil increased by 146 VND/liter, not higher than 18,174 VND/liter; kerosene increased by 133 VND/liter at 17,956 VND/liter. Particularly, the price of mazut oil decreased by 132 VND/kg, not higher than 14,587 VND/kg.

During this operating period, the inter-ministerial decided to reduce the setting up of the Price Stabilization Fund for E5RON92 gasoline at 228 VND/liter, RON95 gasoline at 180 VND/liter; diesel at 200 VND/liter; kerosene at 200 VND/liter and; fuel oil at 100 VND/kg (last period was 300 VND/liter or kg).

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(Source: VNA)