On the afternoon of May 11, the Ministry of Industry and Trade – Finance decided to adjust retail gasoline prices every 10 days.

During this adjustment period, the inter-Ministry decided to increase E5 RON 92 gasoline to 1,490 VND/liter with a maximum retail price of 28,950 VND/liter. For gasoline RON 95 is also adjusted to increase by 1,550 VND / liter with the maximum retail price of 29,980 VND / liter. This is the consecutive price increase since the end of April. After this increase, the retail gasoline price in the country has set a new peak.

Not only adjusted to increase the price of gasoline but also oil products, at this operating period, the inter-Ministry also increased strongly. Specifically, the selling price for diesel oil increased to 26,650 VND per liter, up 1,120 VND; kerosene is 25,160 VND per liter, an increase of 1,340 VND and fuel oil is 21,560 VND per kg.

From 3pm on 11/5, today's gasoline price continues to gallop close to the mark of 30,000 VND/liter

During this adjustment period, the Ministry of Finance – Industry and Trade did not spend the stabilization fund for gasoline and diesel products. For kerosene, the fund expenditure increased to 300 dong per liter compared to the previous operating period, madut oil was 33 dong compared to 0 dong in the previous operating period. The level of stable fund deduction for RON95 gasoline, E5 RON92 gasoline and diesel oil is 100 VND per liter. As for kerosene, madut oil is not deducted from the fund.

Since the beginning of the year, the inter-Ministry has continuously spent heavily on price stabilization funds to curb the increase in domestic gasoline prices.

Previously, the resolution of the National Assembly Standing Committee from April 1, the environmental protection tax on gasoline, grease will be reduced. Therefore, the price of petrol and oil will be reduced in proportion to the tax reduction, in which, a reduction of 2,000 VND/liter of gasoline, and 1,000 VND/liter of oil products.

In addition to reducing tax on environmental protection, Chairman of the Finance and Budget Committee Nguyen Phu Cuong suggested that the Government consider the possibility of reducing import tax (MFN) of gasoline as an additional measure to intervene in case crude oil prices in the world market continue to fluctuate.



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