Continue discharging the gasoline price stabilization fund

At 7:30 p.m. on March 14, the Ministry of Industry, Trade and Finance continued to announce price management when world finished petroleum products continued to increase on March 13. Base prices of domestic petroleum products were 9.10-29.8% higher than the previous day. RON95-III gasoline increased by 9.3%, diesel (+16.6%), kerosene (+29.8%), mazut (+14.1%).

Therefore, to keep gasoline prices from increasing, in this operating period, the management agency continues to discharge the stabilization fund. RON 95-III gasoline, kerosene and mazut all have a cost of 4,000 VND, while diesel costs 5,000 VND per liter.

Thanks to that, the price of RON 95-III gasoline (a popular type on the market) in this operating period remains the same at 25,570 VND per liter, E5 RON 92 is 22,500 VND. Similarly, each liter of diesel and kerosene costs the same as the March 12 operating period, 27,020 VND and 26,930 VND, respectively.

This is the fifth consecutive operating period in which inter-Ministries have used the Price Stabilization Fund. Keeping fuel prices during this operating period aims to stabilize the petroleum market and avoid socio-economic impacts, according to the Ministry of Industry and Trade.

Gasoline and oil prices are currently as follows:

Unit: VND/liter or kg, depending on type.

Before reusing the Stabilization Fund after 2 years, this Fund still has about more than 5,600 billion VND. According to Director of the Department of Domestic Market Management and Development (Ministry of Industry and Trade) Tran Huu Linh, this fund can only support price stabilization for about 15 days if it continues to maintain the current spending level. In case the stabilization fund is completely discharged, Mr. Tran Huu Linh said that the inter-ministries have considered the proposal to use the advance of reserve funds to stabilize prices.

According to estimates by VnExpressafter 5 discharges, the stabilization fund has spent nearly 1,500 billion VND.

Domestic gasoline prices are being managed flexibly according to Resolution 36, instead of periodically every 7 days as before. According to the Ministry of Industry and Trade, this mechanism combined with the use of the stabilization fund contributes to reducing the increase in domestic fuel prices. Currently, the basic supply of gasoline and oil meets domestic consumer demand until the end of April.