Gasoline prices dropped sharply again, nearly 1,000 VND/liter cheaper than the previous adjustment

From 3:00 p.m. on December 14, 2023, prices of gasoline and oil products will have different price adjustments depending on the type of product.

According to the Ministry of Industry, Trade and Finance, in this adjustment period, each liter of E5 Ron 92 gasoline decreased by 780 VND, while Ron 95 had a decrease of 920 VND. Diesel and kerosene products are also regulated differently, specifically:

  • Ron 95 gasoline is reduced by 920 VND/liter, the selling price is not higher than 21,400 VND/liter
  • E5 Ron 92 gasoline reduced by 780 VND/liter, selling price no more than 20,510 VND/liter
  • Diesel oil reduced by 720 VND/liter, selling price no higher than 19,000 VND/liter
  • Kerosene reduced by 960 VND/liter, selling price no higher than 19,960 VND/liter
  • Fuel oil reduced by 550 VND/liter, selling price no higher than 14,970 VND/kg

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This is the 7th consecutive time that the inter-ministries continue to not make provisions for the Petroleum Price Stabilization Fund and stop spending from this fund on gasoline and oil products. Since the beginning of the year until now, gasoline prices have undergone 35 adjustments, including 17 increases, 14 decreases and 4 times unchanged.

The Joint Ministry of Industry, Trade and Finance said that the world petroleum market in the past 7 days decreased due to concerns about the security situation in the Middle East affecting oil supply from this region. In addition, the fact that countries reached a historic agreement to reduce fossil fuel consumption at COP 28 also caused prices to go down.

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