The price of RON 95 petrol declined by 400 VND per litre from 15:00 on February 21 as decided by the Ministry of Industry and Trade and the Ministry of Finance (Illustrative photo: VNA)

Hanoi (VNA) - The price of RON 95 petrol declined by 400 VND per litre from 15:00 on February 21 as decided by the Ministry of Industry and Trade and the Ministry of Finance.

The two ministries announced that the price of E5 petrol is not higher than 18,340 VND per litre, and those of diesel 0.05S and kerosene should not be higher than 15,716 VND per litre and 14,560 VND per litre, respectively.

Meanwhile, the ministries also decided to adjust the price stabilisation fund for E5 bio-fuel at 600 VND per litre, while the use of the fund for RON 95, kerosene and diesel was 0 VND per litre.

This is the first drop of petrol prices in 2018 and the first time that the ceiling price of RON 95 petrol has been announced as consumers no longer have access to RON 92 petrol since January 2018.

The Ministry of Industry and Trade, and the Ministry of Finance review fuel prices every 15 days to adjust the prices in accordance with fluctuations on the world market.

The average global price of petrol products during the last 15 days to February 21 was at 73.062 USD per barrel for RON 92 and 76.160 USD for diesel.-VNA