Petrol prices see largest decrease since early this year

Petrol prices see largest decrease since early this year

The new price of RON92 petrol is VND24,810 per litre

Nhan Dan Online – The retail price of RON92 petrol was lowered by VND500 per litre from 4pm today (August 7), the largest reduction since early this year.

The price adjustment was made following a request from the Ministry of Finance, and the Ministry of Industry and Trade, in the context where world fuel prices were trending downward during the last 30 days.

The retail prices of fuel oil, diesel and kerosene, were also slashed, by VND70, VND160 and VND140 per litre respectively.

After the price adjustment, the new price of RON92 petrol is VND24,810 per litre and RON95 petrol is VND25,410 per litre, down VND400 per litre.

According to statistics from the ministries, the retail price of RON 92 petrol is VND193 per litre higher than the regulated base price, while the selling prices of diesel, fuel oil and kerosene are from VND68 – VND153 per litre higher than the regulated base prices.

Along with the price reduction, the ministries also asked fuel dealers to reduce extraction from the fuel price stabilisation fund for petrol from VND600 to VND300 per litre.

This is the second price reduction within the last two weeks, following the fall of around VND330 per litre on July 28.

Petrol prices see largest decrease since early this year Related image(s)