Also during this adjustment period, the executive agency decided not to set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene oil, and mazut oil.
The world petroleum market during this operating period (from May 30, 2024 – June 5, 2024) is influenced by factors such as: increased US crude oil inventories, OPEC+ may increase supply crude oil in the fourth quarter of 2024, the military conflict between Russia and Ukraine continues…
The above factors have caused world gasoline prices in recent days to increase and decrease alternately depending on each product, but the main tendency is to decrease.
The average price of world petroleum products between the price management period on May 30, 2024 and the operating period on June 6, 2024 is: 85,366 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 3,830 USD/barrel , equivalent to a decrease of 4.29%); 90,098 USD/barrel of RON95 gasoline (down 2,832 USD/barrel, equivalent to a decrease of 3.05%); 93,672 USD/barrel of kerosene (down 2,134 USD/barrel, equivalent to a decrease of 2.23%); 93,490 USD/barrel of 0.05S diesel oil (down 1,842 USD/barrel, equivalent to a decrease of 1.93%); 506,712 USD/ton of 180CST 3.5S fuel oil (down 8,908 USD/ton, equivalent to a decrease of 1.73%).
This operating period, in response to the above developments in world petroleum prices, fluctuations in the VND/USD exchange rate and current regulations, the Ministry of Industry and Trade and Finance jointly decided on a plan to manage petroleum prices to ensure changes in petroleum prices. Domestic gasoline price fluctuations are consistent with world gasoline price fluctuations; continue to maintain the price difference between biofuel E5RON92 and mineral gasoline RON95 at a reasonable level to encourage the use of biofuel according to the Government’s policy; ensure harmony of interests among market participants.