Gasoline prices have recently been a matter of great public concern. Here, on June 13, the Ministry of Industry and Trade and the Ministry of Finance will adjust the retail price of gasoline instead of tomorrow (June 11). Because June 11 is a Saturday and is a holiday, the governing body postpones the adjustment of petrol prices to next Monday.
According to the update of the Ministry of Industry and Trade to June 9 on retail gasoline prices on the Singapore market, RON92 gasoline price is at 148.6 USD/barrel for RON 92 gasoline, RON 95 gasoline is 154.1 USD/barrel. bin. Notably, diesel oil on June 6 spiked to 170.6 USD/barrel.
Meanwhile, the average price of petroleum products in the world in the previous operating period was at USD 144/barrel of RON 92 gasoline; $151.9/barrel of RON 95 gasoline.
Exchange with online knowledge, The leader of a key business in Ho Chi Minh City said that as of June 11, the average price of gasoline and finished oil products in the Singapore market is currently 500-870 VND/liter higher than the domestic retail price of gasoline, while oil diesel, kerosene about 2,900-3,100 VND/liter.
Therefore, in the operating period on June 13, gasoline prices may increase by about 500-900 VND/liter, of which E5 RON 92 gasoline increases more. For oil products, diesel oil increased strongly by nearly 3,000 VND/liter. If the management agency releases the stabilization fund, gasoline prices may increase less, about 400-700 VND/liter.
If the forecast is true, the price of domestic gasoline products will have the 6th consecutive increase and the 12th increase in the first half of the year, bringing the price of gasoline to over 32,000 VND/liter.
Regarding the situation of gasoline prices, which is being concerned recently, in the press there was a publication “Price is only 13,000 VND / liter, Malaysia wants to export gasoline to Vietnam” receiving the attention of public opinion.
Recently, news from Vietnamnet said that the Government Office has also sent a document to the Ministry of Industry and Trade, conveying the direction of Prime Minister Pham Minh Chinh on information about petrol prices and the ability to supply gasoline. Malaysian oil for Vietnam. Accordingly, Prime Minister Pham Minh Chinh requested Minister of Industry and Trade Nguyen Hong Dien to closely monitor and coordinate with relevant agencies to review and process information on gasoline prices and supply capacity. Malaysia’s petroleum supply to Vietnam.
Previously, at the seminar on Export promotion to Malaysia and Muslim countries organized by the Investment and Trade Promotion Center of Ho Chi Minh City (ITPC), Mr. Tran Viet Thai – Ambassador Extraordinary and Plenipotentiary of Vietnam Nam in Malaysia, said that the Vietnam Trade Office in Malaysia is ready to support and connect Vietnamese businesses to import petroleum from Malaysia to stabilize the domestic market, Labor reported.
According to Mr. Tran Viet Thai, the price of gasoline in Vietnam is already 31,573 VND/liter, while RON 95 gasoline in Malaysia is subsidized by the Government for the price of 13,000 VND/liter for people. “In order to ensure petrol price stability, the Malaysian Government has agreed to export 300,000 liters of RON 95 gasoline to Vietnam, but currently, it has not been deployed much,” Thai said.
On June 3, the Ministry of Industry and Trade also said that in the current gasoline price structure of Vietnam, taxes and fees account for about 30-32% (equivalent to 10-11 thousand VND/liter). Thus, without taxes and fees, the price of gasoline in Vietnam would be about 20 thousand VND / liter (equivalent to 0.86 USD / liter).
In Malaysia, the State does not levy taxes on domestically consumed gasoline, and even has a subsidy policy. The government is subsidizing RM 1.65 ($0.4) per liter of RON 95 petrol and RM 1.85 per liter of diesel. The Ministry of Industry and Trade calculates that if there is no subsidy and still no taxes, the price of RON 95 gasoline in Malaysia will now be $ 0.87 / liter, while the price in Vietnam if taxes and fees are removed is about 0. 86 USD/liter.
The Ministry of Industry and Trade said that without government subsidies, the price of petrol in Malaysia would be equivalent to the price of petrol in Vietnam. In particular, Malaysia’s petrol subsidy policy only applies to local people, and petroleum exported here is sold at the common market price of the region.
Therefore, the information that Malaysia wants to export gasoline to Vietnam in the context of the domestic price of this item has increased to a record high, the Ministry of Industry and Trade confirmed that this is unlikely.
According to the Ministry of Industry and Trade, in Singapore, a major petroleum exporter in Asia, gasoline prices are also quite high, Singapore’s RON 95 gasoline price is currently at $2,315 per liter (equivalent to about 54,000 VND). /liter).
Recently, some enterprises still import petrol from the Malaysian market at the same price as those from Asian markets such as Singapore (according to MOP’s price is the average daily price published by Singapore’s Platt news agency). father).