The price of RON 95-III gasoline, a common type in the market, increased by 140 VND, reaching 18,710 VND per liter. Similarly, E5 RON 92 also rose by 140 VND, with a new price of 18,370 VND.

Oil products also increased by 140-220 VND per liter compared to the previous adjustment period. Specifically, each liter of diesel and kerosene rose to 17,280 VND and 17,690 VND, respectively.

Gasoline and oil prices changed as follows:

Unit: VND/liter or kg, depending on type

Over the past two months, low gasoline and oil prices helped reduce input fuel costs for consumers. However, from a supply perspective, some petroleum businesses reported that these price levels, coupled with deep discounts, made it difficult for them to balance supply and ensure business efficiency.

According to data from the Ministry of Industry and Trade as of the end of September, the Petroleum Price Stabilization Fund had a surplus of over 5,617 billion VND. Of this, Vietnam National Petroleum Group (Petrolimex) accounted for over half, nearly 3,086 billion VND. This is also the key enterprise holding nearly 50% of the domestic petroleum retail market share.

Additionally, Saigon Petro had 329 billion VND, Military Petroleum nearly 301 billion VND, Dong Thap Petroleum 461 billion VND, and Thanh Le Import-Export 391 billion VND. Conversely, PVOIL was the enterprise with the largest fund deficit, exceeding 138 billion VND. Other units also had fund deficits, such as Binh Minh Petro and Truong An.

In fact, since 10/2023, authorities have ceased allocating and using the Petroleum Price Stabilization Fund. Compared to the end of 2023, the fund's current balance has decreased by nearly 1,000 billion VND. A representative from the Ministry of Finance explained that this reduction was mainly because some enterprises were no longer key petroleum businesses. Consequently, they did not disclose the stabilization fund amounts for these enterprises, as the funds had been transferred and submitted to the state budget.

* Continually updated

Phuong Dung