The Department of Domestic Market Management and Development (Ministry of Industry and Trade) has just issued Notice No. 589 to the Departments of Industry and Trade of provinces and centrally-run cities; key petroleum traders; and petroleum distributors on the time of gasoline price management during the April 30 - May 1 holiday, based on the provisions of Decree No. 80/2023/ND-CP, amending and supplementing a number of articles of Decree No. 95/2021/ND-CP and Decree No. 83/2014/ND-CP on petroleum trading.

The Ministry of Industry and Trade has just announced the adjustment of the time for managing gasoline prices during the April 30 - May 1 holiday. The next management period will be on May 5, 2025. Photo: TT

The notice clearly states that in case the price management time coincides with a holiday according to regulations, it will be implemented as follows:

If Thursday falls on the first day of a holiday, the petrol price adjustment will be made on the preceding Wednesday. If Thursday falls on any other holiday, the petrol price adjustment will be made on the first working day after the holiday.

In case the price of petroleum products fluctuates abnormally, affecting socio-economic development and people's lives, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister for consideration and decision on the appropriate time to manage petroleum prices.

Specifically, according to current regulations, Thursday, May 1, 2025 is International Labor Day (the second day of the April 30 - May 1, 2025 holiday). Therefore, the management of gasoline prices following the management period on April 24, 2025 will be implemented on Monday, May 5, 2025 (the first working day after the holiday).

The Department of Domestic Market Management and Development (Ministry of Industry and Trade) notifies the Departments of Industry and Trade and traders to know and implement.