Fuel prices continue sharp drop in latest adjustment

Fuel prices continue sharp drop in latest adjustment

Retail fuel prices in Việt Nam were sharply reduced from 16:00 on April 21 following the latest adjustment by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.

Fuel prices see a sharp decline in the latest adjustment. —VNA/VNS Photo

Accordingly, the price of E5RON92 biofuel is capped at VNĐ21,934 (US$0.83) per litre, down VNĐ658 per litre from the previous level, while RON95-III gasoline now costs no more than VNĐ23,042 per litre, a decrease of VNĐ719 per litre.

The price of diesel 0.05S was reduced significantly to a maximum of VNĐ27,856 per litre, down VNĐ3,185, while 180CST 3.5S mazut oil is capped at VNĐ19,631 per kilo, a drop of VNĐ701.

In this price management period, the authorities decided to allocate funds to the Petroleum Price Stabilisation Fund at VNĐ200 per litre for biofuel, VNĐ400 per litre for gasoline, and VNĐ600 per litre or kilo for diesel and mazut oil. However, they opted not to disburse the funds for any petroleum products

Việt Nam’s fuel prices remain lower than those in several neighbouring countries, including Thailand, Cambodia, Laos and China, according to the MoIT. 

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