Local fuel prices fall
Fuel prices in the local market dropped from 3 p.m. today, October 16, as a result of the global oil price fall over the last 15 days, according to the ministries of Finance and of Industry and Trade.
The ministries also decided to keep the extraction levels to add to the national fuel price stabilization fund unchanged at the current VND100 for each liter of E5 RON92 bio-fuel sold and the current VND300 per liter of RON95 gasoline, kerosene and diesel oil.
However, the extraction level for heavy fuel oil inched up to VND900 per kilogram, which is VND600 higher than that in the previous price adjustment.
Local fuel traders were allowed to take VND200 from the fund for each liter of RON95 petrol sold to customers. Other fuels received no extractions from the fund.
In this adjustment, the bio-fuel fell VND310 per liter to VND19,470. RON95-III gasoline inched down VND271 per liter to stay no higher than VND20,795.
The prices of diesel oil 0.05S, kerosene and heavy fuel oil were lowered by VND415, VND528 and VND2,103 per liter or kilogram and are sold at less than VND16,223, VND15,258 and VND12,816, respectively.
Since the middle of August to date, the local market has recorded four cuts and one hike in the fuel prices. The price of bio-fuel has been maintained below that of RON95 to encourage the use of the bio-gasoline.