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The ministries of Industry and Trade and Finance released an announcement on the fuel price adjustment, which took effect from 3 p.m. today, April 17.
Apart from adjusting the prices of gasoline, local fuel wholesalers were allowed to revise upward the prices of diesel oil 0.05S by VND300 per liter, kerosene by VND290 per liter and heavy fuel oil 180CST 3.5S by VND407 per kilogram.
The ceiling price of bio-fuel gasoline E5 RON92 is now VND19,700 per liter, while that of RON95-III petrol is VD21,235 per liter.
Meanwhile, diesel oil 0.05S and kerosene are now priced at VND17,380 and VND16,260 per liter, respectively. The ceiling price of the heavy fuel oil 3.5S is now VND15,617 per kilogram.
The world’s fuel prices over the past 15 days inched up by 0.4%-4.4% against the previous 15-day period.
The ministries decided to keep the amount of money added to the fuel price stabilization fund unchanged.
Also, they cut down on the use of the fund, allowing fuel wholesalers to extract VND1,456 from the fund for each liter of bio-fuel E5 RON92 sold, which is lower than that allowed for the previous fuel price adjustment on April 2, at VND2,042.
Traders can extract a mere VND743 from the fund for each liter of RON95 petrol sold, down from the previously allowed VND1,304.
As for the heavy fuel oil, they did not tap the fund to stabilize its price.
The use of the fund is aimed at cushioning the impact of the fuel price hike on the local market, particularly as the country prepares to celebrate Reunification Day (April 30) and International Labor Day (May 1), according to the ministries.
Regarding the fuel stabilization fund at local fuel trading firms, data from the Vietnam National Petroleum Group, also known as Petrolimex, showed that its fund was minus VND240 billion as of 3 p.m. today, April 17. The figure dropped by nearly VND250 billion compared with that recorded before 5 p.m. on April 2, when the previous fuel price adjustment took effect.
The PetroVietnam Oil Corporation encountered the same fund deficit. Its balance today has yet to be publicized, but the fund was minus VND304 billion on April 2.