According to the latest adjustments, biofuel E5 RON92 fell by VND401 to VND10,942 per litre, while the price of RON95-III declined by VND308 to VND11,631 per litre.
Elsewhere, the price of diesel 0.05S and kerosene has also been adjusted to VND9,941 per litre and VND7,965 per litre, representing price drops of VND882 and VND674 per litre, respectively.
Moreover, Mazut 180CST 3.5S is being sold at no more than VND8,670 per kilogramme, a sharp fall of VND657 per kilogramme.
Both the Ministry of Industry and Trade and the Ministry of Finance review the price of fuel price every 15 days in order to adjust domestic prices to reflect fluctuations taking place in the global market.
The latest fall marks the eighth consecutive price drop since the beginning of the year for the nation’s petrol prices. Indeed, since the start of the year the price of both biofuel E5 RON92 and RON95-III has fallen by a total of VND9,000 per litre, along with diesel 0.05S which has decreased by VND7,000 per litre.
These drops in fuel prices are expected to contribute to alleviating the challenges faced by local people and businesses amid the economic downturn caused by the novel coronavirus.