According to an announcement from the inter-ministerial management, the price of E10 RON 95-III gasoline increased by 1,450 VND, reaching 27,080 VND per liter. The price of E5 RON 92 also saw an increase of 1,260 VND, settling at 26,390 VND per liter.

Similarly, diesel oil prices rose by 550 VND to a new price of 30,490 VND per liter, while mazut is now 19,470 VND per kilogram.

During this price adjustment period, regulators decided to halt the allocation and use of the Fuel Price Stabilization Fund for gasoline and oil products.

The fuel market experienced significant volatility starting in late February, primarily due to ongoing conflicts involving the US, Israel, and Iran. To mitigate the impact on domestic retail prices, the Fuel Price Stabilization Fund was reactivated on 10/3, after a long period of inactivity. The Ministry of Finance reported that by the end of June, the fund's balance at enterprises exceeded 196 billion VND, representing approximately 3,5% of its value at the beginning of the year.

Following the price shock in March, the Government established a mechanism to advance funds from the state budget, bolstering resources for the Fuel Price Stabilization Fund. In Quarter II, over 700 billion VND was advanced from the budget, and the fund was replenished as global fuel prices began to cool. By the end of June, the portion of the fund managed under the budget advance mechanism had a balance of nearly 1,715 billion VND.

*Continuing to update

Phuong Dung