Hanoi (VNA) – Retail fuel prices in Vietnam were reduced from 15:00 on May 28 following a decision issued by the Ministry of Industry and Trade and the Ministry of Finance.
In the latest price adjustment, the two ministries decided to use the petrol and oil price stabilisation fund for fuel categories at the following rates: 500 VND per litre for biofuel, 700 VND per litre for unleaded gasoline, 300 VND per litre for diesel oil, and 700 VND per kilogramme for mazut oil.
Accordingly, E5RON92 petrol is capped at 23,258 VND (0.88 USD) per litre, down 1,082 VND, while RON95-III is sold for no more than 24,154 VND per litre, down 1,395 VND.
Diesel 0.05S is set at no more than 27,651 VND per litre, down 1,110 VND, while mazut 180CST 3.5S is capped at 20,442 VND per kilogramme, down 1,041 VND.
The Ministry of Industry and Trade said the global petroleum market during the latest pricing period was affected by several factors, including new developments in negotiations between the US and Iran, continued US attacks while still in talks with Iran, warnings of retaliation from Iran, the gradual recovery of maritime traffic through the Strait of Hormuz, rising inflation in the US due to volatile energy prices, declining global commercial oil reserves and the prolonged Russia–Ukraine conflict.
These factors caused global refined fuel prices to fluctuate, though the main trend was downward, it noted.
As of May 28, Vietnam’s petrol and oil prices remained lower than those in neighbouring countries, according to the ministry./.
