Business

Fuel prices continue to fall from midnight on March 26

According to the MoIT, Vietnam’s fuel prices remain at an average level in the region and are lower than those in neighbouring countries sharing land borders.

At a filling station in Hanoi. (Photo: VNA)
At a filling station in Hanoi. (Photo: VNA)

Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) and the Ministry of Finance have decided to further cut retail fuel prices, effective from midnight on March 26.

Under the new pricing framework, E5 RON92 biofuel is capped at 23,326 VND (0.89 USD) per litre, down 4,749 VND from the previous ceiling. The price of RON95-III is set at no more than 24,332 VND per litre, marking a decrease of 5,625 VND.

Meanwhile, diesel 0.05S is priced at a maximum of 35,440 VND per litre, down 2,459 VND, and kerosene at no more than 35,384 VND per litre, a drop of 971 VND. In contrast, mazut 180CST 3.5S has risen by 1,503 VND to a maximum of 21,748 VND per kilogramme.

Since March 10, authorities have continuously used the fuel price stabilisation fund, with spending ranging from 3,000–5,000 VND per litre for petroleum products. In the latest adjustment, however, the two ministries have suspended the use of the fund.

According to the MoIT, Vietnam’s fuel prices remain at an average level in the region and are lower than those in neighbouring countries sharing land borders.

The ministry said it will coordinate with relevant agencies to inspect and supervise fuel traders to ensure adequate supply for the domestic market, while strictly handling any violations.

It added that the two ministries will continue closely monitoring global and domestic market developments to adjust fuel prices in line with regulations and propose timely measures to the Government and the Prime Minister to stabilise the market./.

VNA
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