Retail prices of oil and petrol dropped from 3pm on October 3 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance.
Accordingly, the ceiling retail price of RON95 bio-fuel decreased by 1,140 VND to 21,440 VND (0.9 USD) per litre, and that of E5 RON92 slipped by 1,050 VND to 20,730 VND per litre.
|Illustrative image (Source: VNA)
The prices of oils also reduced, with that of diesel oil cut by 330 VND to 22,200 VND per litre, and that of kerosene down by 760 VND to 21,680 VND per litre. Mazut oil was priced at 14,909 VND per kg, a decline of 560 VND.
The two ministries also determined to extract 451-600 VND per litre from petrol price for the petrol price stabilisation fund.
So far this year, petrol prices have been adjusted 26 times with 13 times up and 12 times down and one kept unchanged. The petrol prices are now at the lowest level this year.