Gasoline prices continue to fall $ 300, the lowest in nearly 4 years

 Today, all petrol, oil dropped to the bottom after nearly four years, due to the impact of the world market.
Gasoline prices continue to fall 300

Accordingly, in the system 92 RON Vietnam National Petroleum Corporation (Petrolimex) has a new price is 19,930 dong a liter, RON 95 petrol was sold for 20 530 dong per liter, dropped 320 dong. E5 bio gasoline with 92 RON similar price.

Fuel Oil decreased similar to gasoline, Diesel and kerosene while in turn reducing 240 and 280 dong per liter.

Table after falling gas prices

Petrolimex leaders decide explained discount practices derived from price movements of petroleum products on the world market and the pricing cycle in line with the principles for determining the selling price under the current regulations.

Ministry of Industry and Trade said in calculating the 15 day period from 22/11 to 6/11, the average price of RON 92 petrol market in Singapore was $ 81.289 per barrel. According to calculations of the Ministry, the base price of 92 RON petrol and thus also reduce the 312 dong to 19,939 dong per liter after calculating the full costs and taxes. Price base oils also declined 200 dong per liter.

Therefore, the Ministry requires businesses to adjust retail prices are not higher than the base price, simultaneously reducing criticized stabilization fund from 600 dong to 300 dong per liter, applicable to all petrol oil.

At the same time, the Ministry has also increased by half the taxes on import of petrol and oil. Accordingly, the import duty from 18% to gasoline is 27%, applicable from the date of 6/12. Diesel new import tariff of 23% instead of the old rate of 14%. Meanwhile oil imports 26% tax instead of 16% and 24% fuel tax instead of 15%.

This is the 11th consecutive drop in gasoline prices since 28/7, after rising by a circuit 5 times in the first 6 months. Recent revisions to the 22/11 is also a record decline for years, 1,140 dong per liter. With the decrease of 320 dong per liter today, this is the first time the price of gasoline 92 RON below 20,000 since last month 3/2011.

Da consecutive decline and world oil prices is affecting Vietnam in both directions, crude oil exports and imports of finished fuels. In the context of budget revenues are difficult, far more difficult as oil exports decline due to changes in world prices, the Ministry of Finance today also decided to loosen 4/12 petroleum import tariff ceiling to 40 % instead of 30% as applicable.