Petrol prices down to lowest levels in a year

Retail prices of oil and petrol dropped from 3pm on October 3 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.

Accordingly, the ceiling retail price of RON95 bio-fuel decreased by VND1,140 to VNĐ21,440 (US$0.9) per liter, and that of E5 RON92 slipped by VND1,050 to VNĐ20,730 per liter, bringing the level down to that seen in September 2021.

Petrol prices down to lowest levels in a year

A gas station in Hanoi

The prices of oils also saw cuts, with that of diesel oil cut by VND330 to VNĐ22,200 per liter, and that of kerosene down by VND760 to VNĐ21,680 per liter. Mazut oil was priced at VND14,909 per kg, a decrease of VND560.

The two ministries also determined to extract VND451-600 per liter from petrol price for the petrol price stabilisation fund.

So far this year, petrol prices have been adjusted 26 times with 13 revisions up and 12 revisions down and one kept unchanged. The petrol prices are now at the lowest level this year.

VietNam Economic News

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