Petrol prices drop by over 700 VND per litre hinh anh 1Illustrative image (Source: VNA)

Hanoi (VNA) – The prices of RON 92 petrol and bio-fuel E5 dropped 708 VND and 661 VND per litre respectively, from 3:00 pm on March 21.

Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene were also slashed by 609 VND and 657 VND per litre, respectively. 

Under the joint decision, RON 92 and E5 petrol is sold at no more than 17,314 VND (0.76 USD) and 17,099 VND (0.75 USD) per litre respectively, while the new ceiling price of diesel 0.05S and kerosene are 13,838 VND (0.61 USD) and 12,177 VND (0.53 USD) per litre. 

The average global price of petrol products during the last 15 days to March 21 was down 4 USD compared with previous price adjustment, hence the reduction in the domestic prices.

The adjustment marks the second decrease in fuel prices this year.

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