According to news from Youth, Online Knowledgein the regular quarterly press conference of the Ministry of Industry and Trade on the afternoon of March 30, Deputy Minister of Industry and Trade Do Thang Hai said that regulations governing petrol prices will still depend on world prices.

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

A spokesman for the Ministry of Industry and Trade said: “In case the world price increases by 3,000 VND / liter, the domestic price will have to increase by 1,000 VND / liter”. Although recently the negotiations between Russia and Ukraine have made more progress, so in the last 2 days, crude oil prices fell, but before that, they increased very high.

Petrol prices on April 1 will continue to decrease or increase again? first
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According to Mr. Hai, there will be a slight difference in the petrol price adjustment period on April 1, compared with the normal operating period. That was before, the petrol price would be adjusted at 3pm, but this time, because the environmental protection tax is reduced and can be implemented soon, it will be based on that to bring benefits to businesses and people.

Regarding the price management, Mr. Hoang Anh Tuan – Deputy Director of the Domestic Market Department – said that the management of petrol prices will be on 1, 11 and 21 of every month. “April 1 is the next operating period, tomorrow we will take the price of finished petroleum products on the 31st and compile a report on building a plan for operation,” said Mr. Tuan.

In a related development, data from the Ministry of Industry and Trade shows that the price of finished gasoline on the Singapore market updated to March 25 has decreased significantly compared to the previous price calculation period (March 21).

Accordingly, the average price of RON 92 gasoline used to prepare E5 RON 92 gasoline is $125.96/barrel. The price of gasoline RON 95 is 129.84 USD/barrel. Thus, the price of RON 92 and RON 95 gasoline in this cycle decreased quite sharply compared to the previous cycle.

Oil prices on the Singapore market, updated to March 25, also tended to decrease sharply compared to the previous price calculation period. In which, the average price of kerosene is 142.02 USD/barrel, average diesel oil is 144.27 USD/barrel.

According to leaders of some petroleum wholesalers in Hanoi, because the world gasoline price has tended to decrease recently, the domestic gasoline price in the upcoming price adjustment session (1/4) will also decrease accordingly. .

Some petroleum wholesalers in Hanoi expect that, when the environmental protection tax is reduced and the petrol stabilization fund is not included, the retail gasoline price in the operating period on April 1 will decrease by about 1,400 VND/liter. . And after deducting the Fund, plus the reduction of environmental protection tax, the price of gasoline products in the operating period on April 1 will be reduced at most about 1,000 VND/liter.

Meanwhile, experts predict that in the operating period on April 1, oil prices will either move sideways or increase insignificantly. However, the specific reduction in petrol and oil prices in the adjustment period on April 1 needs to be further calculated and also depends on the setting up of the petrol and oil price stabilization fund of the operating agency.

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