VINACHEM

HCMC – RON92 and RON95 gasoline prices were revised down by VND330 per liter on July 28 while diesel and kerosene were also reduced by VND350 per liter, said the Vietnam National Petroleum Group (Petrolimex) following a joint statement by the ministries of finance and industry-trade.

The respective selling prices of RON95 and RON92 are now VND25,810 and VND25,310 a liter while those of diesel and kerosene are VND22,330 and VND22,406 a liter respectively. The price of heavy fuel oil remains unchanged after an adjustment two weeks ago.

Earlier on July 7, the price of RON92 jumped by VND410 to reach an all-time high of VND25,640 a liter.

Petrolimex noted the price fall was in line with movements on the global market.

The selling price of gasoline is higher than its base price by VND395 a liter as fuel traders are allowed to use VND600 from the fuel price stabilization fund for each liter sold.

Meanwhile, the selling prices of diesel and kerosene are similar to their base prices. As for heavy fuel oil, traders were told to halt using the price stabilization fund.

A fuel price chart posted on the website of the Vietnam Petroleum Association indicated the price of RON92 in Singapore decreased to US$115.6 a barrel last Thursday from US$124.13 a barrel earlier this month. The world’s 30-day average prices used to calculate the local base prices continued to drop to US$121.4 from US$123.03 a barrel during the July 14-24 period.

Traders are now estimated to earn VND261 a liter of RON92, VND233 a liter of diesel, VND238 a liter of kerosene and VND184 a kilo of heavy fuel oil.