The joint Ministry of Industry and Trade and Finance announced that the global fuel market in recent days continues to be affected by information related to the stalled negotiations between the United States and Iran.

According to the joint Ministry's adjustment this afternoon, E10 RON 95-III gasoline price decreased by 1,230 dong, settling at 27,020 dong per liter. E5 RON 92 price dropped by 730 dong, to 26,970 dong per liter.

Similarly, diesel products decreased by 20 dong, with a new price of 29,100 dong per liter. Separately, mazut oil increased to 22,130 dong per kg.

During this adjustment cycle, the regulator allocated 200 dong per liter to the Fuel Stabilization Fund for biofuel. Concurrently, 500 dong per liter from the fund was used for mazut.

In related news, the Ministry of Industry and Trade is finalizing a draft of a new Decree on fuel business. This draft proposes allowing businesses to calculate and determine selling prices themselves, moving away from the State announcing maximum prices every 7 days as is currently the practice.

The draft stipulates that the effective time for new prices must be publicly announced by primary distributors at least 30 minutes in advance, clearly stating the hour and minute of effect. This aims to prevent premature price increases or delayed reductions. All announcements and data regarding price publication, updates, and related transactions must be stored and prohibited from modification or deletion.

Furthermore, the draft also aims to reduce intermediate layers, thereby increasing autonomy for distribution traders and fostering competition. The Ministry of Industry and Trade proposes raising supply capacity requirements for primary distributors, requiring them to meet a total supply of at least 300,000 cubic meters or tons per year. This measure seeks to restructure the market and ensure a stable fuel supply.

* Further updates to follow

Phuong Dung