The retail prices of petrol have continued to see a steep fall from 3pm on November 21, following the latest adjustments by the Ministry of Finance and the Ministry of Industry and Trade.
The retail prices of petrol have continued to see a steep fall from 3pm on November 21.(Photo: VNA)
Accordingly, the price of E5 RON 92 dipped by 973 VND to trade at maximum of 18,627 VND per litre, while that of RON95 came down by 1,093 VND to reach 19,972 VND per litre. Diesel 0.05S, kerosene, and mazut 180CST dropped by 907 VND, 844 VND, and 508 VND in their prices, available for sale at not higher than 17,637 VND, 16,242 VND, and 15,186 VND per litre, respectively.
Petrol prices have fallen two times so far in November, with a total reduction of some 2,000 VND per litre.
According to the Ministry of Industry and Trade, as the petrol price stabilisation fund has been used frequently for an extended period to stabilise the macro-economy and curb inflation rate, the fund has shrunk dramatically and even fallen below zero in some businesses.
As such, ministries decided to cease the subsidies for E5 RON 92, kerozen, and mazut 180CST.
A review of fuel prices are set to be announced every 15 days to keep up with changes in the global market.VNA