Vietnam announces third straight fuel price reduction
Vietnam announces third straight fuel price reduction
Vietnam’s fuel retail prices made a slight fall despite a downtrend of crude oil on the global market as the Ministry of Industry and Trade and the Ministry of Finance decided to raise contributions to the fuel price stabilization fund.
The third straight downward adjustment, following six consecutive increases, was announced on Tuesday afternoon.
Accordingly, the price of a liter of the E5RON92 gasoline dropped VND830 to VND26,47 while that of RON95 shrank VND840 to VND27,313. (US$1 = VND22,888)
Unlike the previous adjustment on April 1, diesel oil, kerosene, and mazut also declined in price.
Diesel oil fell from VND25,080 to VND24,380, while kerosene slid from VND23,764 to VND23,024 per liter. Mazut stayed still at VND20,929 per kilogram.
For this adjustment, the two ministries decided to charge buyers VND550 for each liter of bio-fuel E5 RON92 and VND650 for each liter of RON95 petrol to replenish the national fuel price stabilization fund.
The deduction levels of each liter of diesel oil and kerosene are VND500 and VND350, respectively.
Local fuel traders now can only tap the fund at VND481 for each kilogram of mazut sold.
