On the afternoon of August 8, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes to retail gasoline prices. The effective time will start from 3:00 p.m. the same day.

Accordingly, the regulatory agency decided to reduce the price of E5 RON 92 gasoline by VND900 per liter and RON 95 gasoline by VND930 per liter. After adjustment, the maximum retail price of E5 RON 92 gasoline is VND20,710 per liter and RON 95 gasoline is VND21,670 per liter.

Similarly, oil prices continued to be adjusted downward in today's management period. Specifically, diesel prices decreased by VND730/liter, to VND19,140/liter; kerosene prices decreased by VND680/liter, to VND19,410/liter. Fuel oil also decreased by VND860/kg, to VND16,020/kg. In the management period, the joint ministries maintained that they would not draw from or spend from the Price Stabilization Fund.

Thus, domestic gasoline prices have decreased for the fifth consecutive session. Since the beginning of the year, gasoline prices have increased 16 times and decreased 16 times; diesel prices have increased 15 times and decreased 15 times.

Currently, the room for the petroleum price stabilization fund of some key enterprises is still recording a large positive level because in many recent management periods, the fund has not been used. Of which, as of August 8, Petrolimex recorded a positive fund of VND 3,078 billion; PV Oil had a negative fund of more than VND 138 billion; Saigon Petro had a positive fund of VND 328 billion; Petimex had a positive fund of VND 460 billion...

In the first half of this year, the Ministry of Industry and Trade said it had issued a decision to inspect the maintenance of petroleum trading conditions of 6 key traders and 8 distributors and was in the process of implementation.

In addition, through reviewing the report on maintaining business conditions, the Ministry has directed the General Department of Market Management to inspect 4 key traders and 20 distributors with signs of violations for consideration and handling according to regulations.