Fuel prices plummet on November 21

The retail prices of petrol have continued to see a steep fall from 3pm on November 21, following the latest adjustments by the Ministry of Finance and the Ministry of Industry and Trade.

fuel prices plummet on november 21 hinh 0

Accordingly, the price of E5 RON 92 dipped by VND973 to trade at maximum of VND18,627 per litre, while that of RON95 came down by VND1,093 to reach VND19,972 per litre. Diesel 0.05S, kerosene, and mazut 180CST dropped by VND907, VND844, and VND508 in their prices, available for sale at not higher than VND17,637, VND16,242, and VND15,186 per litre, respectively.

Petrol prices have fallen two times so far in November, with a total reduction of some VND2,000 per litre.

According to the Ministry of Industry and Trade, as the petrol price stabilisation fund has been used frequently for an extended period to stabilise the macro-economy and curb inflation rate, the fund has shrunk dramatically and even fallen below zero in some businesses.

As such, ministries decided to cease the subsidies for E5 RON 92, kerozen, and mazut 180CST.

A review of fuel prices are set to be announced every 15 days to keep up with changes in the global market.

VNA

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