Based on the management of the Ministry of Industry and Trade - Ministry of Finance, businesses simultaneously adjusted gasoline prices from 3:00 p.m. today (August 8).

Accordingly, the price of E5 gasoline decreased by 900 VND/liter, the selling price is 20,710 VND/liter. The price of RON 95 gasoline decreased by 930 VND/liter, the selling price is 21,670 VND/liter.

Similarly, diesel price was also adjusted down by 730 VND/liter, selling price at 19,140 VND/liter.

This is the fifth consecutive reduction in domestic gasoline prices.

In the most recent gasoline price adjustment period (August 1), the prices of all types of gasoline were adjusted downward by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline decreased by 290 VND/liter, the selling price is 21,610 VND/liter. The price of RON 95 gasoline decreased by 280 VND/liter, the selling price is 22,600 VND/liter.

Meanwhile, diesel price was also adjusted down by 320 VND/liter, selling price at 19,870 VND/liter. Kerosene price decreased by 230 VND/liter, selling price at 20,090 VND/liter.

Regarding petroleum trading, Ms. Nguyen Thuy Hien - Deputy Director of the Domestic Market Department (Ministry of Industry and Trade) - said that in the first half of the year, implementing state management regulations, the Ministry of Industry and Trade issued a decision to inspect the maintenance of petroleum trading conditions of 6 wholesale traders and 8 distributors. This inspection is in the process of implementation.

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

The total minimum source in 2024 that the Ministry of Industry and Trade assigns to key petroleum traders (36 traders) to implement is more than 28 million m3/ton of various types of petroleum.

In the first 6 months of 2024, according to reports from the 2 factories and the General Department of Customs, the total source of production and import of gasoline and oil in the first 6 months of 2024 reached 12.41 million tons, equivalent to about 15.2 million m3/ton of gasoline and oil of all kinds. Of which, imports accounted for 44.5%, domestic production accounted for 55.5%.

Consumption in the first 6 months of this year was about 13.2 million m3/ton. Inventory as of June 30 was about 1.85 million m3/ton, equivalent to the first 6 months of 2023.

Estimated consumption in the last 6 months of this year is about 13.2 million m3/ton (average about 2.2 million m3/ton/month). Inventory is from 1.8-2 million tons. According to calculations, the supply of gasoline and oil will be enough to meet the needs of people and production enterprises.