Petrol prices witness slight fall in latest review

19:15 12/04/2021
The retail price of petrol has fallen by over VND45 per liter as of 4:30 p.m. on April 12, thereby marking the first decrease in five months.

Following the latest price announcement made by both the Ministry of Industry and Trade and the Ministry of Finance, the price of biofuel E5 RON92 endured a decline of VND45 to VND17,806 per litre, while the price of RON95 suffered a fall of VND76 to VND18,970 per litre.

This latest price drop is the first to occur since November 11, 2020, with domestic fuel prices previously recording five months of consecutive rises. Before their declines occurred, the price of E5 RON92 price over the five-month period had increased by VND3,966 per liter whilst the price of RON95 had risen by VND4,345 per liter.

Similarly, the prices of diesel 0.05S, kerosene, and mazut had fallen slightly, being capped at VND14,141, VND12,827 per liter, and VND13,687 per kilogram, respectively.

The latest price changes have occurred following a review of fuel prices conducted by the two ministries, a process which takes place every 15 days as a means of ensuring that domestic prices stay in line with global market fluctuations.