This operating period, according to Resolution No. 18/2022/UBTVQH15, the environmental protection tax has been allowed by the Standing Committee of the National Assembly to reduce from 700-2,000 VND/liter/kg (depending on type) but due to world gasoline prices, especially Due to the high increase in oil prices, the Inter-Ministry of Industry, Trade and Finance had to use a combination of petrol and oil BOG Fund tools at a reasonable level to reduce gasoline prices and limit the increase in oil prices compared to the increase in oil prices. world.
The world petroleum market continues to be complicated, the conflict between Russia and Ukraine continues to affect the supply of petroleum to the market, meanwhile, with information about global economic growth is not up to date. In particular, the demand for petrol has tended to decrease in recent days, causing gasoline prices on the world market to fluctuate, but the general trend is to increase.
The average price of petroleum products in the world between the gasoline price management period on March 21, 2022 and the operating period on April 1, 2022 is: 126,837 USD/barrel of RON92 gasoline used to make E5RON92 gasoline (increased by 4 93 USD/barrel, equivalent to an increase of 4.04% over the previous period); 130,550 USD/barrel of RON95 gasoline (up 4.71 USD/barrel, equivalent to an increase of 3.74% over the previous period; 140,557 USD/barrel of kerosene (up 20.15 USD/barrel, equivalent to an increase of 16.73% compared to the previous period); with the previous period); 140.727 USD/barrel of diesel oil (up 18.39 USD/barrel, equivalent to 15.03% increase over the previous period); about 679,128 USD/ton of fuel oil 180CST 3.5S (up 54.04 USD). /ton, equivalent to an increase of 8.64% compared to the previous period).
Changes in the price of petroleum products on the world market
March 21, 2022 – April 1, 2022
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(Details are in the table of statistics on the world price of petroleum products in the last 10 days)
The epidemic situation in the country continues to be complicated in many provinces and cities across the country. However, according to the Government’s new policy on safely and flexibly adapting to the Covid-19 epidemic in Resolution No. 128/NQ-CP, production and business activities of people and businesses are being affected. recover again. In order to support production and business activities of enterprises and people’s daily life, limit the increase in gasoline prices, in recent operating periods, the Inter-Ministry of Industry and Trade – Finance has made expenditures on using BOG fund for gasoline and oil products with spending from 100-1,500 VND/liter.
This operating period, according to Resolution No. 18/2022/UBTVQH15, the environmental protection tax has been allowed by the Standing Committee of the National Assembly to reduce from 700-2,000 VND/liter/kg (depending on type, of which E5RON92 gasoline is reduced by 1,900 VND/liter), RON95 gasoline decreased by 2,000 VND/liter, diesel and fuel oil decreased by 1,000 VND/liter/kg, kerosene decreased by 700 VND/liter) but due to the increase in world gasoline prices, especially oil prices, the Lien Ministry Industry, Trade and Finance had to use a combination of the BOG petrol and oil fund tools at a reasonable level (adjusting the setting up and spending levels for using the BOG Fund for gasoline and oil products) to reduce gasoline prices and limit the amount of gasoline used. increase in oil prices relative to the increase in world prices. If the environmental protection tax stays the same, the domestic gasoline price in this operating period will increase from 1,069-2,789 VND/liter/kg (specifically, E5RON92 gasoline increases by 1,069 VND/liter, RON95 gasoline increases by 1,161 VND/liter, and oil) diesel increased by 2,547 VND/liter, kerosene increased by 2,789 VND/liter, fuel oil increased by 1,606 VND/liter).
The management of petrol and oil prices through the flexible use of tax tools, the State’s BOG Fund aims to contribute to ensuring the achievement of the objectives of controlling inflation and stabilizing the market, supporting people and businesses in the long run. the process of recovering production and business activities; continue to maintain the price difference between E5RON92 biofuel and RON95 mineral gasoline at a reasonable level to encourage the use of biofuel to protect the environment according to the Government’s policy; ensure the harmonization of interests among market participants, encourage enterprises to import petroleum to maintain supply for the domestic market when domestic petroleum production is not really stable; minimize negative impacts on socio-economic development, production and business activities and people’s lives.
To comply with regulations, guidelines, and operating instructions of the Government and competent authorities, the Ministry of Industry and Trade and the Ministry of Finance decide:
Petroleum Price Stabilization Fund
– Setting up the Petroleum Price Stabilization Fund: Setting up the BOG Fund for E5RON92 products at 250 VND/liter and RON95 at 200 VND/liter, diesel oil at 100 VND/liter, kerosene and oil mazut does not extract.
– Expenses to use the petrol and oil BOG Fund: Expenditures on the BOG Fund for petroleum products at the rate of 500 VND/liter (not used in the previous period) and not the petroleum BOG Fund for other petroleum products.
Petrol selling price
After adjusting the level of setting aside and spending for the use of the Petroleum Price Stabilization Fund in Section 1 above, the selling prices of popular consumer petroleum products on the market are as follows:
– E5RON92 gasoline: not higher than 27,309 VND/liter (down 1,021 VND/liter compared to the current retail price), 866 VND/liter lower than RON95-III gasoline, if the environmental tax is not reduced by 1,900 VND/liter, the price will increase is 1,069 VND/liter and the selling price will be 29,399 VND/liter;
– RON95-III gasoline: not higher than 28,153 VND/liter (decreased by 1,039 VND/liter compared to the current retail price), if the environmental tax is not reduced by 2,000 VND/liter, the price will increase by 1,161 VND/liter and the selling price will be 30,353 VND/liter;
– Diesel oil 0.05S: not higher than 25,080 VND/liter (an increase of 1,447 VND/liter compared to the current retail price), if the environmental tax is not reduced by 1,000 VND/liter, the price will increase by 2,547 VND/liter and the selling price will be 26,180 VND/liter;
– Kerosene: not higher than 23,764 VND/liter (an increase of 1,519 VND/liter compared to the current retail price) if the BOG Fund is not spent 500 VND/liter, the price will increase by 2,019 VND/liter and the selling price will be 24,264 VND/liter, if the environmental tax is not reduced by 700 VND/liter, the price will increase by 2,789 VND/liter and the selling price will be 24,534 VND/liter;
– Fuel oil 180CST 3.5S: not higher than 20,929 VND/kg (an increase of 506 VND/kg compared to the current retail price), if the environmental tax is not reduced by 1,000 VND/liter, the price will increase by 1,606 VND/liter and the price sales will be 22,029 VND/liter.
Volatility in domestic retail price of petrol
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Execution time
– Setting up and spending the petrol price stabilization fund for petroleum products: applied from 0:00 on April 1, 2022.
– Apply the selling price for petroleum products: regulated by the leading petrol and oil trader, but not earlier than 00:00 on April 1, 2022 for items with increased prices and not later than 00. hours 00 April 1, 2022 for discounted items.
– From 00:00 on April 1, 2022, which is the time when the Ministry of Industry and Trade announces the base price of the period announced in this Official Dispatch until the date the Ministry of Industry and Trade announces the base price of the next period, the adjustment selling prices of petroleum products shall be decided by the main petrol and oil traders in accordance with the provisions of Decree No. 95/2021/ND-CP dated November 1, 2021 of the Government amending and supplementing a Article number of Decree No. 83/2014/ND-CP dated September 3, 2014 on petroleum trading and Decree No. 83/2014/ND-CP, Circular No. 104/2021/TT-BTC dated November 18 2021 of the Ministry of Finance guiding the method of determining the constituent elements in the base price formula for petrol and oil, Circular No. 103/2021/TT-BTC dated November 18, 2021 of the Ministry of Finance guiding the method of deduction setting up, spending, using and managing the petrol and oil price stabilization fund.
The Ministry of Industry and Trade will coordinate with functional agencies to inspect and supervise the implementation of the responsibility of ensuring petroleum supply for the market by petrol and oil traders and will strictly handle violations. if any).
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
Website: http://tginternationaljsc.com
