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The Ministry of Finance – Industry and Commerce has just announced an increase in gasoline prices starting at 4:00 p.m. this afternoon (December 11).
Consequently, E5RON92 gasoline increased 635 VND to 15,129 VND / liter (an increase of 635 VND / liter; RON95-III gasoline increased 656 VND to 16,007 VND / liter; diesel increased by 458 VND to 11,892 VND / liter; kerosene increased by 639 VND to 10,777 VND / liter; mazut 180CST 3.5S oil increased 200 VND to 11,942 VND / kg.
The Inter-ministry also decided not to establish the Gasoline Stabilization Fund for gasoline, diesel, kerosene and fuel oil E5RON92; Creation of a Stabilization Fund for gasoline 95 RON at 100 VND / liter.
The expenditure on the use of the gasoline price stabilization fund for E5RON92 gasoline is 1,000 VND / liter, RON95 gasoline at 200 VND / liter, diesel at 300 VND / liter, fuel oil at 200 VND / kg, especially kerosene spending at 400 VND / liter (the previous period was 300 VND / liter.
The cause of this increase in gasoline prices is explained by the Ministry of Industry and Commerce due to the trend of economic recovery in the main countries of the world together with the widespread adoption of vaccination measures against diseases. Covid-19 had a great influence on the movements of the world oil price in this operating period. World gasoline prices in 15 days rose quite high, an average increase of 2.8-10.1% compared to the previous operating period.
According to this ministry, the situation of the disease in the country remains fairly well controlled, productive and commercial activities are actively restored, preparing goods for the end of the year and the Lunar New Year. In the last operational periods, in order to support the economic recovery process, limit the increase, try to stabilize or reduce gasoline prices, the Ministry of Industry and Commerce – Finance has made a continuous use of spending. The petrol price stabilization fund is quite high (currently VND 200 / liter / kg to VND 1,000 / liter for gasoline types).
In this operating period, if you do not continue to spend on the Stabilization Fund, the price of gasoline will increase around 400-1,635 VND / liter compared to the current price. To ensure that the domestic price of oil correctly reflects the trend in world oil prices, limit the increase in prices of petroleum products to support production, business and consumption by individuals and companies. Due to the many difficulties derived from the impact of the Covid-19 epidemic, the Ministry of Industry and Commerce – Finance decided not to establish the BOG Fund for gasoline and oil (except for RON95 gasoline, which reserved 100 VND / liter); keep Binh Fund spending level stable for petroleum products, for kerosene, increasing spending by 100 VND / liter (the previous period was 300 VND / liter) to limit the increase in the price of kerosene compared to the increase in prices of the finished product in the world market.
Gasoline price management also contributes to ensuring the implementation of the inflation control goal in 2020, keeping the price difference between the E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuel. study to protect the environment in accordance with government policy.
