Petrol prices rise, diesel continues to fall in Thursday adjustment

Petrol prices rise, diesel continues to fall in Thursday adjustment

Việt Nam’s petrol and oil prices moved in opposite directions on Thursday afternoon following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Illustrative photo. With this latest adjustment, domestic fuel prices have undergone 49 revisions since the beginning of the year. — VNA/VNS Photo

Việt Nam’s petrol and oil prices moved in opposite directions on Thursday afternoon following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Under the new rates, E5 RON92 biofuel is capped at VNĐ19,822 (US$0.75) per litre, an increase of VNĐ534, while RON95-III petrol may be sold at no more than VNĐ20,460 per litre, up VNĐ451.

Oil prices, in contrast, have fallen. The 0.05S diesel is capped at VNĐ18,380 per litre (down VNĐ420), kerosene at VNĐ18,893 per litre (down VNĐ580), and mazut 180CST 3.5S at VNĐ13,436 per kilogramme (down VNĐ52).

With this latest adjustment, domestic fuel prices have undergone 49 revisions since the beginning of the year. RON95 petrol has seen 27 increases and 22 decreases; diesel has recorded 24 rises, 24 drops, and one instance of no change.

In this pricing cycle, the two ministries opted for a management approach designed to keep domestic fuel prices aligned with global market movements. The policy continues to maintain a reasonable price gap between E5 RON92 and RON95 to encourage the use of biofuels in line with the Government's policy, while ensuring a fair balance of interests among market participants. No contributions to, nor disbursements from, the petrol and oil price stabilisation fund were made for any fuel category. 

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