Petrol prices down in latest adjustment

04:13 PM @ Friday - 08 December, 2023

Retail prices of petrol were revised down on December 7 in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

Those of RON 95-III and E5 RON 92 were cut by VND668 and VND509 to VND22,322 (US$0.92) and VND21,290 per liter, respectively.

Meanwhile, the prices of diesel, kerosene, and mazut were reduced to VND19,721, VND20,922, and VND15,527 per liter or kilogram respectively.

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

Since the beginning of this year, petrol prices have undergone 35 adjustments, with 18 up, 13 down, and four unchanged.

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 the negative impact on socio-economic development, production, and business activities, among others.