Petrol prices slightly drop

The retail prices of petrol were slightly reduced starting 3.30pm on January 15, in the latest review by the ministries of Industry and Trade, and Finance.

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A refilling station of Petrolimex (Photo: VNA)

The two ministries review fuel prices every 15 days to adjust domestic prices in accordance with fluctuations in the global market. The world’s petrol prices prior to this review recorded many hikes. 

Price of E5RON92 dropped by 36 VND per litre to 19,845 VND (0.86 USD) per litre at the highest, while that of RON95-III was adjusted down 77 VND per litre to 20,913 VND per litre.

The prices of diesel 0.05S and kerosene were capped at 16,548 VND and 15,535 VND per litre, dropping 43 VND and 50 VND per litre, respectively.

Meanwhile, mazut 180CST is sold at no more than 12,709 VND per kg, up 789 VND per kg.

The two ministries flexibly used the petrol price stabilisation fund as a tool to ensure domestic petrol prices reflect global trend. They decided to subsidise 200 VND per litre for E5RON92, RON95, diesel and 150 VND for kerosene, while decreasing subsidies for mazut.