Gasoline prices today July 16: E10 gasoline price increased to more than 20,000 VND per liter

The Joint Ministry of Industry, Trade and Finance said that the world petroleum market in recent days has tended to increase or decrease depending on the product compared to the previous 7 days due to the impact of the US-Iran conflict.

The world petroleum market during this operating period is influenced by factors such as the re-ignition of attacks between the US and Iran, and Iran’s announcement to close the Strait of Hormuz.

The above factors cause world petroleum prices to tend to increase. Specifically, each barrel of RON 95 used to prepare E10 RON 95 increased by 6.4% to 103.7 USD, diesel oil increased by 17% to 136.3 USD. Mazut also increased by 13.6% to 486.4 USD per ton.

According to the inter-ministerial administration, the price of E10 RON 95-III gasoline increased by 550 VND to 20,550 VND per liter. E5 RON price 92 VND added 630 VND, at 19,820 VND per liter.

Similarly, diesel and mazut products increased by 720-1,580 VND per liter and kg. Currently, each liter of diesel costs 23,320 VND per liter, mazut is 14,450 VND per kg.

Gasoline and oil prices change as follows:

With this adjustment, the Ministry of Industry and Trade said that the retail price of gasoline in Vietnam is currently about 4,800-22,000 VND lower than in Cambodia, Thailand, China and Laos. Diesel oil is also 2,900-10,600 VND lower than in these countries.

During this period, the operator continued to stop making appropriations and at the same time allowed spending to use the Petroleum Stabilization Fund. Specifically, the cost of using the fund for diesel is 1,500 VND per liter, mazut is 500 VND per kg.

From June 1, all RON 95-III mineral gasoline will be mixed with 10% ethanol to become E10 gasoline before being sold to the market. Meanwhile, E5 RON 92 gasoline continues to be maintained until the end of 2030.

According to a representative of the Ministry of Industry and Trade, after more than a month of implementation, the number of complaints from consumers about E10 gasoline is gradually decreasing. Mr. Dang Tat Thanh, Department of Innovation, Green Transformation and Industrial Promotion (Ministry of Industry and Trade), affirmed that at all stages from the warehouse to retail stores, fuel samples are stored in parallel with the business process.

When abnormal phenomena occur after using E10 gasoline, authorities can check this sample and compare it with current standards to evaluate the quality of gasoline at each stage of supply. However, he noted that in the case of using gasoline of unknown origin, determining the cause will require more evaluation steps.