Petrol retail prices revised down from 15:00 on October 15

Petrol retail prices revised down from 15:00 on October 15

The ministries also drew VNĐ500 per kilo from the fund for fuel oil, financed by a temporary advance from the State budget.

People refill fuel at a petrol station in Hà Nội. — VNA/VNS Photo

Việt Nam cut retail gasoline and diesel prices from 15:00 on Thursday, with the ministries of industry and trade and finance setting aside VNĐ200 per litre of biofuel gasoline for the petroleum price stabilisation fund.

The ministries also drew VNĐ500 per kilo from the fund for fuel oil, financed by a temporary advance from the State budget.

The ceiling for E5 RON92 gasoline was set at no more than VNĐ26,971 (US$1.03) per litre, down VNĐ732 from the previous cap and VNĐ58 below E10 RON95-III. E10 RON95-III was capped at VNĐ27,029 per litre, down VNĐ1,225, while 0.05S diesel was capped at VNĐ29,106 per litre, down VNĐ22.

Fuel oil moved the other way: the 180CST 3.5S grade was capped at VNĐ22,135 per kilo, up VNĐ1,043 from the previous ceiling.

The Ministry of Industry and Trade will work with other agencies to monitor whether fuel traders are meeting their obligation to keep the market supplied, and will deal strictly with any violations.

Both ministries continue to watch the market closely so they can announce prices in line with Government directives, and will promptly propose price stabilisation solutions to the Government and the Prime Minister. 

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