Petrol prices down on October 11

Retail prices of petrol were revised down on October 11 as from 4pm in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the retail prices of E5 RON 92 and RON 95-III were cut by 1,595 VND and 1,798 VND to 21,907 VND (0.9 USD) and 23,044 VND (0.94 USD) per litre, respectively.

Meanwhile, the prices of diesel, kerosene and mazut were reduced to 22,410 VND per litre, 22,464 VND per litre, and 16,238 VND per kilogram, respectively.

The ministries decided not to use the petrol and oil price stabilisation fund.

The price adjustment is intended to ensure that the fluctuation of petrol and gas prices in the country is in line with changes in prices in the world while encouraging the use of biofuel as well as minimizing negative impacts on socio-economic development, production and business activities, among others.