Hanoi (VNA) - The prices of RON 92 petrol and bio-fuel E5 dropped 604 VND and 593 VND per litre, respectively, from 3:00 pm on August 4, according to the Ministry of Industry and Trade and the Ministry of Finance.

It was the fourth fuel price cut after five hikes in a row and the eighth cut since the beginning of this year.

The decision also reduced the prices of diesel by 637 VND and kerosene and mazut by over 370 VND per litre.

RON 92 and E5 are now sold at no more than 14,699 VND and 14,250 VND per litre respectively, while the ceiling prices of diesel 0.05S and kerosene are 11,661 VND and 10,269 VND per litre.

The ministries said the global price of fuel during the last 15 days to August 4 was 47.02 USD per barrel, down nearly 3 USD per barrel while the price of diesel 0.05S reduced by approximately 5 USD per barrel.

The base fuel prices will be adjusted by the two ministries every 15 days, depending on the fluctuation of world oil and gas prices since the previous announcement and should be in accordance with the government’s Decree 83/2014/ND-CP, and Circular 39/2014/TTLT-BCT-BTC.-VNA