Gasoline prices continue to fall to the lowest level since the beginning of the year, diesel prices are at par with gasoline prices

The good news is that gasoline and oil prices continue to decrease: Each liter of gasoline drops 450-630 VND, oil drops 380-1,970 VND, bringing gasoline prices to the lowest level since the beginning of the year and diesel prices are on par with RON 95 gasoline.

After adjustments by the Ministry of Industry, Trade and Finance, from 3:00 p.m. today, each liter of RON 95-III gasoline decreased to 22,580 VND and E5 RON 92 to 21,780 VND.

Meanwhile, diesel decreased by 1,650 VND, to 22,530 VND.

Thus, domestic gasoline prices have decreased for the 8th time in the past 2.5 months, reaching their lowest level since the beginning of the year.

In today’s operating period, the joint Ministries of Industry, Trade and Finance said that the general trend of the world petroleum market between the two operating periods is decreasing, due to the USD continuing to increase in price and central banks of countries increasing interest rates. interest rate… to cope with inflation. The average price of world finished products in the past 10 days decreased by 3-10%.

Petroleum retail businesses began reporting losses

While gas prices bring good news to users, from the retailers’ perspective, the story is a bit different. A petroleum business owner calculated that the actual cost per liter of gasoline from transportation at the upstream warehouse to the retail store ranges from 1,200 to 1,340 VND; Oil is 1,130-1,250 VND. The more businesses sell, the more they lose money, but local state management agencies request that they not be allowed to close.

A gas station owner said that the seller does not have enough money to pay for electricity and water because there is no discount. Retail businesses believe that the minimum cost per liter of gasoline must be 1,500-1,600 VND, and 1,400-1,500 VND for oil to offset operating and management costs.

Gas stations are asking focal businesses to ensure discounts, share business costs, and profit norms with retailers.

Many gas stations are at a loss.

In addition to losses, owners of petroleum businesses in many places said that since the beginning of August, shortages and broken goods have continued to occur. Previously, the focal unit would supply based on the average output of the 3 consecutive months, now they only supply when there is goods. At this time, Ms. Sinh said she does not expect to make a profit, just “hopes to have enough revenue to cover expenses”.

In addition, when calculating retail base prices, management agencies must also ensure circulation costs, avoiding “lowering prices to get results but increasing losses for businesses”. Retail businesses are at the end of the supply chain and cannot offer or decide the discount level for themselves, but must rely on sharing from the focal business.

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