Vietnamplus

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 number of local consumers using E5 petrol in their autos has been increasing rapidly, though bio-fuel has only been put into use nationwide for just the past month.

The prices of RON 92 and E5 petrol and kerosene remained unchanged in the regular price review on December 5 while diesel prices increased slightly by 150 VND per litre as of 3:00 pm the same day.

The retail prices of RON 92 and E5 petrol dropped by 112 VND and 105 VND per litre, respectively, from 16:55 of October 5, according to a joint decision of the ministries of Industry and Trade and Finance.

The Ministry of Finance has proposed to lower import tax on bio-fuel ethanol from 20 to 17 percent so as to make E5 petrol cheaper.

E5 petrol producers and distributors need more State support to sell the product on the local market due to the numerous difficulties they face, the Vietnam Petroleum Association said.

The German-based industrial gas producer Messer expects to increase its supply for the Vietnamese food industry and seek cooperation in producing E5 petrol in the country.

From December this year E5 bio-fuel made by adding ethanol will be produced and sold nationwide, according to the Prime Minister's Decision 53/2012/QD – TTg on the road map for using E5 petrol.