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Fuel supply estimated to surge 10-15% in 2023

The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media.

In the first scenario, the total fuel supply should reach 25.9 million cubic meters, up 10%, while the second one requires enterprises to ensure the fuel supply reaches 26.76 million cubic meters, up 15% over 2022.

The fuel output will be distributed to the market monthly and quarterly, according to the ministry.

Currently, the Ministry of Industry and Trade has allocated at least 5.5 million cubic meters of fuel in the fourth quarter of 2022 to satisfy the market demand and ease fuel shortages throughout the country.

According to an announcement jointly issued by the ministries of Industry-Trade and Finance, bio-fuel E5 RON92 retail prices fell by VND1,000 per liter to VND21,670 per liter. RON95-III gasoline now sells for VND22,700 per liter, down VND1,080 per liter.

Diesel oil now costs VND23,210 per liter, falling by VND1,590, while kerosene dropped by VND1,080 to VND23,560 per liter.

Source: Saigon Times

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