VINACHEM

The government of Vietnam continued to lower retail petrol prices to below VND20,000 per litre as of 3p.m. on September 12, following a similar fall a week earlier.

Accordingly, the price of RON95-III dropped by VND1,190 to VND19,630 per litre, while that of E5 RON 92 biofuel was also revised down by VND1,080 to a maximum of VND18,890 per litre.

The prices of diesel 0.05S and kerosene all declined by VND930 to VND17,160 per litre and VND17,790 per litre, respectively.

Meanwhile, Mazut 180CST 3.5S was sold at no more than VND14,460 per kilogram, down by VND690.

Since the beginning of the year, petrol prices have increased 17 times and decreased 19 times. Meanwhile, diesel prices have risen 15 times and fallen 21 times.

In the latest price adjustment cycle, the Ministry of Industry and Trade and the Ministry of Finance decided not to extract the petrol price stabilization fund.

This is the 46th time, since October 2023, that the two ministries have not utilized the price stabilization fund. As of the end of 2023, the fund had a surplus of over VND6,655 billion, according to data from the Ministry of Finance.  – Source: VOV –