Business

Petrol prices expected to go down on April 21 adjustment

Retail petrol prices in Vietnam is forecast to decrease from April 21 following falling prices in the world market.
Petrol prices expected to go down on April 21 adjustment ảnh 1Illustrative photo (Photo: VNA)
Hanoi (VNA) – Retail petrol prices in Vietnam is forecast to decrease from April 21following falling prices in the world market.
It is expected thatthe petrol prices may drop by 320-450 VND per liter, and oil prices by 100-400 VND per liter.
At the latest priceadjustment on April 11 by the Ministry of Finance and the Ministry of Industryand Trade, the price of E5 RON 92 petrol was revised up by 1,090 VND (0.046 USD) per liter,to 23,170 VND per liter; RON 95 petrol by 1,120 VND per liter, to24,240 VND per liter, and diesel oil by 710 VND per liter to 20,140VND per liter.
In the world market,crude oil prices have plunged in recent sessions as investors are concernedabout the possibility of interest rate hikes by the US Federal Reserve (Fed) aswell as the precarious outlook of the global economy.
From the beginningof this year, the petrol prices have undergone 10 adjustments, with six times up, three times down, and once unchanged.
Regarding the costof petrol and oil trading, the Government Office said that it has received anurgent request from several petrol and oil retailers dated March 10 to PrimeMinister Pham Minh Chinh. They proposed to refund profits and business expensesto enterprises and amend/supplement two decrees onpetrol and oil trading.

Deputy Prime Minister Le Minh Khai assignedthe Ministry of Industry and Trade and the Ministry of Finance to review theproposal and give written responses to the enterprises, ensuring the legality and benefits of relevant parties./.
VNA
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