Business

Petrol prices fall for second consecutive adjustment

E5 RON92 petrol has been capped at 18,498 VND (0.71 USD) per litre, down 384 VND, while RON95-III petrol now costs 18,856 VND per litre, a decrease of 351 VND.

Petrol prices fall in the second consecutive adjustment. (Photo: VNA)
Petrol prices fall in the second consecutive adjustment. (Photo: VNA)

Hanoi (VNA) – Retail fuel prices have been reduced for the second consecutive pricing cycle, according to an announcement from the Ministry of Industry and Trade and the Ministry of Finance, with the latest adjustments taking effect from 3pm on April 17.

Accordingly, E5 RON92 petrol has been capped at 18,498 VND (0.71 USD) per litre, down 384 VND, while RON95-III petrol now costs 18,856 VND per litre, a decrease of 351 VND.

The price of diesel 0.05S has been reduced by 206 VND to 17,037 VND per litre, and that of kerosene dropped by 229 VND to 17,184 VND per litre. Mazut, however, saw a slight increase of 58 VND, now priced at 15,960 VND per kilogram.

This marks the second consecutive drop in domestic RON95 prices, which have now reached their lowest level in four years, equivalent to the prices seen in April 2021.

Since the beginning of this year, RON95 petrol has experienced eight price hikes and eight cuts. Diesel oil has increased seven times, decreased eight times, and remained unchanged once.

In this adjustment, the authorities opted not to use the petrol and oil price stabilisation fund for any of the fuel categories.

Global oil prices during the April 10–16 period were shaped by rising OPEC+ output, shifting US tariffs, slower demand forecasts from the IEA, and continued geopolitical tensions, particularly the Russia-Ukraine conflict, according to the Ministry of Industry and Trade./.

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