Business

Petrol prices rise, diesel continues to fall in December 4 adjustment

Vietnam’s petrol and oil prices moved in opposite directions on December 4 afternoon following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

With this latest adjustment, domestic fuel prices have undergone 49 revisions since the beginning of the year. (Illustrative photo - Source: VNA)
With this latest adjustment, domestic fuel prices have undergone 49 revisions since the beginning of the year. (Illustrative photo - Source: VNA)

Hanoi (VNA) – Vietnam’s petrol and oil prices moved in opposite directions on December 4 afternoon following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

Under the new rates, E5 RON92 biofuel is capped at 19,822 VND (0.75 USD) per litre, an increase of 534 VND, while RON95-III petrol may be sold at no more than 20,460 VND per litre, up 451 VND.

Oil prices, in contrast, have fallen. The 0.05S diesel is capped at 18,380 VND per litre (down 420 VND), kerosene at 18,893 VND per litre (down 580 VND), and mazut 180CST 3.5S at 13,436 VND per kilogramme (down 52 VND).

With this latest adjustment, domestic fuel prices have undergone 49 revisions since the beginning of the year. RON95 petrol has seen 27 increases and 22 decreases; diesel has recorded 24 rises, 24 drops, and one instance of no change.

In this pricing cycle, the two ministries opted for a management approach designed to keep domestic fuel prices aligned with global market movements. The policy continues to maintain a reasonable price gap between E5 RON92 and RON95 to encourage the use of biofuels in line with the Government's policy, while ensuring a fair balance of interests among market participants. No contributions to, nor disbursements from, the petrol and oil price stabilisation fund were made for any fuel category./.

VNA
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