Gasoline prices plummet, RON 95 is only over 19,000 VND/liter

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, September 12.

Compared to the previous adjustment period, the price of E5 gasoline decreased by VND1,080/liter, the selling price was VND18,890/liter. The price of RON 95 gasoline decreased by VND1,190/liter, the selling price was VND19,630/liter.

Similarly, diesel price was also adjusted down by VND930/liter, selling price is VND17,160/liter.

Currently, the petroleum price stabilization fund of some key enterprises has recorded a large positive level because in many recent management periods, the fund has not been used.

As of September 11, Petrolimex recorded a positive fund balance of VND3,079 billion; Saigon Petro had a positive balance of VND328 billion; Petimex had a positive balance of VND460 billion; PV Oil had a negative balance of more than VND138 billion...

In the world market, oil prices have fallen to their lowest level since December 2021 after the Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for oil demand in the coming time. OPEC said that world oil demand could increase by 2.03 million barrels/day this year, down 0.08 million barrels compared to the previous forecast.

Oil prices have also been pressured by concerns about the economy of China, the world's top oil importer. Recent data showed that China's exports rose at their fastest pace in nearly two years in August, but imports remained disappointing due to weak consumer demand.