Domestic petrol prices fall sharply on July 11
VOV.VN - The retail prices of petrol in Vietnam dived sharply on July 11 after consecutive hikes over the past months.
The Ministry of Industry and Trade and the Ministry of Finance jointly announced a periodical adjustment on the retail prices of petrol on July 11, with the retail prices falling by more than VND3,000 per litre to below VND30,000 per litre.
The retail price of RON95 decreased by VND3,088 to a maximum of VND29,675 per litre, while that of E5RON92 bio-fuel was down VND3,103 to VND27,788 per litre.
Meanwhile, the prices of diesel DO 0.05s-II and kerosene dropped by VND3,022 and VND2,008 to VND26,593 and VND26,345 per litre, respectively.
According to data from the Ministry of Industry and Trade updated on July 5, the average petrol price in the Singapore market dropped sharply. Petrol RON92 cost more than US$139 /barrel, while petrol RON95 was capped at more than US$147/barrel.
Similarly, oil prices also decreased compared to the most recent adjustment.
The National Assembly Standing Committee last week approved the Government’s proposal to further axe the environmental protection tax on petrol and oil, starting at 00.00 on July 11.
