On the afternoon of August 21, the Ministry of Industry and Trade - Ministry of Finance informed that the world oil market from August 11 to 20 was affected by concerns surrounding China's weak economic activity, the appreciation of the USD, the decrease in US crude oil reserves, China using oil reserves to prevent OPEC+ from cutting supplies to push oil prices up... The above factors caused oil prices from August 11 to August 20 to fluctuate up and down.
In response to the developments in world oil prices and current regulations, the joint ministries decided not to set up the Price Stabilization Fund for all oil products; not to spend the Fund on gasoline, diesel, kerosene and stop spending the Fund on fuel oil (previously spent 150 VND/kg).
The selling prices of popular petroleum products on the market are as follows:
E5RON92 gasoline: No higher than VND 23,339/liter (increase of VND 517/liter compared to current retail price), lower than RON95-III gasoline by VND 1,262/liter;
RON95-III gasoline: No higher than VND 24,601/liter (an increase of VND 608/liter compared to the current retail price);
Diesel 0.05S: Not higher than VND 22,354/liter (down VND 71/liter compared to current retail price);
Kerosene: Not higher than VND 22,309/liter (an increase of VND 420/liter compared to current retail price);
Mazut oil 180CST 3.5S: Not higher than 17,981 VND/kg (increase 313 VND/kg compared to current retail price).
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