Illustrative image (Source: VNA)
 
Hanoi (VNA) – The domestic retail price of RON 92 petrol and E5 bio-fuel dropped by 76 VND and 58 VND per litre, respectively, from 15:00 on March 6, following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.

This has been the first reduction of petrol prices for the year 2017.

With the decision, the ceiling prices of RON 92 and E5 bio-fuel are 18,022 VND and 17,760 VND per litre, respectively.

The price of diesel 0.05S inched up 142 VND per litre, while that of paraffin oil was up by 76 VND per litre, to 14,447 VND and 12,834 VND per litre, respectively.

The average global price of RON 92 during the last 15 days to March 6 was 65.677 USD per barrel, down 2 USD compared with previous price adjustment, hence the reduction in the domestic prices.

The prices of petrol and oil are adjusted every 15 days by the two ministries depending on changes in the world market. -VNA