Gasoline price drops, RON 95 gasoline falls below 20,000 VND/liter

On the afternoon of July 17, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes in retail gasoline prices. The effective time is from 3:00 p.m. the same day.

The regulatory agency decided to reduce the price of E5 RON 92 and RON 95 gasoline by VND170 per liter. After adjustment, the retail price of E5 RON 92 gasoline is VND19,480 per liter and RON 95 gasoline is VND19,920 per liter.

Oil prices were adjusted up and down in opposite directions during this management period. Specifically, diesel decreased by 40 VND/liter to 18,790 VND/liter, kerosene increased by 50 VND/liter to 18,420 VND/liter; fuel oil decreased by 90 VND/kg to 15,470 VND/kg. The management agency still maintained that it would not draw from or spend from the price stabilization fund.

Thus, domestic gasoline prices have reversed and decreased after only one increase. Currently, the price of this fuel is at a 4-year low, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 16 times and decreased 14 times. Diesel has increased 15 times, decreased 14 times and remained unchanged once.

The room for the petroleum price stabilization fund of some key enterprises still recorded a large positive level because in many recent management periods, this fund was not used. The fund balance as of the end of the first quarter was more than 6,079 billion VND. Of which, the balance at the Vietnam National Petroleum Group ( Petrolimex ) accounted for half, at 3,082 billion VND.

Information from the Ministry of Industry and Trade said that this agency has basically completed the review, assessment and analysis of the implementation of Decision 53/2012 on the roadmap for applying the blending ratio of biofuels with traditional fuels.

In order to soon issue and implement a roadmap for blending and using new biofuels, Minister Nguyen Hong Dien assigned the Department of Innovation - Green Transformation and Industrial Promotion to coordinate with relevant units to request the Prime Minister's approval on building a roadmap for blending and using alternative biofuels in accordance with Decision 53, as well as quickly develop a new plan.

The Department of Domestic Market Management and Development is assigned to ensure the supply of base gasoline and ethanol, coordinate with relevant units and associations to review and propose updates to technical regulations for gasoline and oil types.

In particular, manufacturing enterprises and business contacts must prepare facilities, equipment, and vehicles to be ready for production, mixing, transportation, and distribution of E10 biofuel nationwide, expected from January 1, 2026.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-giam-xang-ron-95-ve-duoi-20000-donglit-20250717142312761.htm