From 3pm on March 21, the Inter-Ministry of Finance – Industry and Trade issued a decision to adjust petrol prices according to the 10-day operating cycle.
Specifically, gasoline E5RON92: not higher than 28,330 VND / liter (down 655 VND / liter compared to the current price); gasoline RON95-III: not higher than 29,192 VND/liter (down 632 VND/liter compared to the current retail price); diesel oil 0.05S: not higher than 23,633 VND/liter (decreased by 1,635 VND/liter compared to the current retail price); kerosene: not higher than 22,245 VND/liter (decreased by 1,673 VND/liter compared to the current retail price); fuel oil 180CST 3.5S: not higher than 20,423 VND/kg (down 564 VND/kg compared to current selling price).
As soon as the price of gasoline has decreased after 7 consecutive increases, many people wonder why the price of gasoline has decreased slightly, not “shocked” like when it increased?
In fact, how much the domestic gasoline price increases or decreases depends on two main factors including world price movements and the method of setting up and spending the stabilization fund.
In the first half of the 10-day cycle since the adjustment session on March 11, the world gasoline price tended to drop sharply below 100 USD/barrel. But then world prices tended to increase again due to concerns that supply to the market would decrease sharply when petroleum and gas sources from Russia were embargoed, while OPEC had not yet decided to increase supply.
Besides, the implementation of setting up a stabilization fund is also a reason for the modest decrease in gasoline prices. After a long period of continuous price increases, the operating agency has to spend and use the stabilization fund. In many businesses, the stabilization fund is negative hundreds of billions of dong. Therefore, at this adjustment period, the deduction is used by the governing body.
The Inter-Ministry will make an appropriation at this operating period and do not spend it on the BOG Fund.
At the operating period on March 11, the Inter-Ministry only paid for the BOG Fund, not made any deductions.
Specifically, the Inter-Ministry of Finance and the Ministry of Industry and Trade decided to set up a price stabilization fund for E5 RON 92 gasoline at 200 VND/liter, RON 95 gasoline at 50 VND/liter, diesel oil 400 VND/liter, and oil. fire 300 VND/liter, fuel oil is not extracted.
This period, the executive agency stopped spending and using the price stabilization fund for all petroleum products after a long period of continuous “discharge”.
At this operating period, the average price of petroleum products on the world market between the two operating periods decreased compared to the average price of the previous period, and the fund balance was almost exhausted (at 13 fund enterprises was negative). ) so in order to have room to manage prices for the coming periods when the market is still complicated, the two ministries have decided to start making deductions.
Thus, the domestic gasoline price fell for the first time after increasing 7 times in a row. People and businesses expect prices to be further reduced thanks to the decision to reduce environmental protection tax on gasoline.
Accordingly, on Wednesday afternoon (March 23), the National Assembly Standing Committee will consider, discuss and pass a resolution on the environmental protection tax rate for gasoline, oil and grease until the end of December 31. 2022. With an expected reduction of 50% compared to current regulations, gasoline prices are expected to decrease further to ease the burden on people and businesses during the recovery process after the COVID-19 epidemic.
at Blogtuan.info – Source: autopro.com.vn – Read the original article here
