Petrol prices drop over 1,000 VND per litre in latest review

A motorcyclist purchases petrol at a gas station (Photo: VNA)

Hanoi (VNA) – The retail prices of oil and petrol were revised down starting from 3 pm on December 10 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Accordingly, the retail price of E5RON92 bio-fuel decreased 1,101 VND to a maximum of 22,082 VND per litre (around 1 USD) while that of RON95-III was also down 835 VND to 23,801 VND per litre, down for the second consecutive time.

The prices saw the strongest drop this time since late March 2020, after hikes throughout three months in a row to a record high in seven years.

In the past year, petrol prices posted 18 hikes and five declines.

Diesel 0.05S and kerosene are now sold at 17,334 VND and 16,322 VND per litre, respectively, also down strongly.

Meanwhile, the price of Mazut 180CST was adjusted down to 15,745 VND per kilo.

The petrol price stabilisation fund has been used constantly over the past time to mitigate the impacts of global rising commercial oil and petrol prices and contribute to curbing inflation.

The two ministries review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market./.