Domestic gasoline prices today (June 13) were adjusted upward by the Ministry of Industry, Trade and Finance. Each liter of RON 95 gasoline increased by 260 VND, the selling price is 22,230 VND/liter.

Based on the operation of the Ministry of Industry, Trade and Finance, businesses simultaneously adjusted gasoline prices from 3:00 p.m. today (June 13).

Accordingly, the price of E5 gasoline increased by 170 VND/liter, the selling price is 21,310 VND/liter. RON 95 gasoline price increased by 260 VND, the selling price increased to 22,230 VND/liter.

Similarly, the price of diesel was also adjusted to increase by 220 VND/liter, the selling price was at 19,640 VND/liter.

In the previous gasoline price management period (June 6), gasoline prices were adjusted by the Ministry of Industry, Trade and Finance in the direction of reducing prices of all products.

Specifically, the price of E5 gasoline decreased by 610 VND/liter, to 21,140 VND/liter. RON 95 gasoline price decreased by 540 VND/liter, selling price was 21,970 VND/liter.

Diesel price was also adjusted down by 320 VND/liter, the selling price was at 19,420 VND/liter. The price of kerosene decreased by 380 VND/liter, down to 19,550 VND/liter.

Similar to previous operating periods, in the operating period on June 6, the inter-ministries of Industry, Trade and Finance did not deduct nor spend from the Price Stabilization Fund for petroleum products.
Gasoline prices are adjusted to increase. Photo: Nguyen Hue
Information from the Ministry of Industry and Trade, in June, this agency will submit a report to the Government on a decree to replace the decrees on petroleum business. Regarding the Petroleum Price Stabilization Fund, the Ministry of Industry and Trade recommends whether or not to continue to hold the fund, based on the provisions of the 2023 Price Law effective from July 

According to the Ministry of Industry and Trade, with the current implementation of the price management cycle every 7 days, the price fluctuations between two basic adjustments are not large, domestic gasoline prices basically closely follow world price movements. .

“Therefore, the impact of adjusting gasoline prices on the socio-economic situation is not large, it is very rare to use the Petroleum Price Stabilization Fund to stabilize gasoline prices, contributing to achieving the goal of controlling gasoline prices.

controlling inflation, ensuring harmony of interests between business entities and petroleum users,” the Ministry of Industry and Trade said.

According to data from the Ministry of Finance, by the end of 2023, the Petroleum Price Stabilization Fund has a balance of more than 6,655 billion VND. But in the first 5 months of this year, this fund was spent very little.

During the past several periods of gasoline price management, the Ministry of Industry, Trade and Finance decided not to spend nor set aside a gasoline price stabilization fund.

Responding to the press, Ms. Nguyen Thuy Hien, Deputy Director of the Domestic Market Department (Ministry of Industry and Trade), informed that enterprises’ participation and withdrawal from the market takes place regularly, of which petroleum is a commodity. Conditional business is no exception.

To ensure the supply of petroleum, the Ministry of Industry and Trade has assigned the minimum total source (including import and domestic purchase of petroleum) to key petroleum businesses.

From the beginning of the year until now, basically, the petroleum business units have strictly implemented the minimum total allocated source of petroleum supply, meeting enough demand.