Vietnam – The Management Of Petroleum Business.

On 11 January 2022, the Ministry of Industry and Trade issued Official Letter No. 162/BCT-TTTN on the management of petroleum business with the following main contents:

Facing the recent developments in the price of petroleum products in the world, along with the management of petrol and oil prices according to the market mechanism under the management of the State, the Ministry of Industry and Trade and the Ministry of Finance decided:

• Petroleum Price Stabilization Fund

Deduction for setting up petrol price stabilization fund		Only use the Petroleum Price Stabilization Fund
Gasoline E5RON92	100 VND/liter	Gasoline E5RON92	0 VND/liter
Gasoline RON95	450 VND/liter	Gasoline RON95	0 VND/liter
Diesel oil	100 VND/liter	Diesel oil	0 VND/liter
Kerosene	300 VND/liter	Kerosene	0 VND/liter
Fuel oil	300 VND/liter	Fuel oil	0 VND/liter

• The selling price of petrol

After deducting for setting up, contributing to the above-mentioned Petroleum Price Stabilization Fund, the selling price of common consumer petroleum products on the market is not higher than the price:

• E5RON92 gasoline: not higher than 23,159 VND/liter;

• RON95 -III gasoline: not higher than 23,876 VND/liter;

• Diesel oil: not higher than 18,239 VND/liter;

• Kerosene: not higher than 17,138 VND/liter; and

• Fuel oil 180CST3.5S: not higher than 16,362 VND/liter.